SRTS Cash-Secured Put Strategy
SRTS (Sensus Healthcare, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Sensus Healthcare, Inc., a medical device company, manufactures and sells radiation therapy devices to healthcare providers worldwide. The company uses superficial radiation therapy (SRT), a low-energy X-ray technology in its portfolio of treatment devices. It offers SRT-100, a photon X-ray low energy superficial radiotherapy system that provides patients an alternative to surgery for treating non-melanoma skin cancers, including basal cell and squamous cell skin cancers, as well as other skin conditions, such as keloids; and SRT-100 Vision, which provides the user with a SRT-tailored treatment planning application that integrates the embedded high frequency ultrasound imaging module, volumetric tumor analysis, beam margins planning, and dosimetry parameters. The company also provides SRT-100 Plus; Sentinel service program, which offers its customers protection for their systems; and in-office laser rental services. In addition, it sells disposable lead shielding replacements; and disposable radiation safety items, such as aprons and eye shields, ultrasound probe film, and disposable applicator tips to treat various sized lesions and various areas of the body. Sensus Healthcare, Inc. was incorporated in 2010 and is headquartered in Boca Raton, Florida.
SRTS (Sensus Healthcare, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $56.8M, a beta of 1.19 versus the broader market, a 52-week range of 2.82-5.92, average daily share volume of 75K, a public-listing history dating back to 2016, approximately 54 full-time employees. These structural characteristics shape how SRTS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.19 places SRTS roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a cash-secured put on SRTS?
A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike.
Current SRTS snapshot
As of May 15, 2026, spot at $3.63, ATM IV 108.90%, IV rank 23.96%, expected move 31.22%. The cash-secured put on SRTS below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this cash-secured put structure on SRTS specifically: SRTS IV at 108.90% is on the cheap side of its 1-year range, which means a premium-selling SRTS cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 31.22% (roughly $1.13 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SRTS expiries trade a higher absolute premium for lower per-day decay. Position sizing on SRTS should anchor to the underlying notional of $3.63 per share and to the trader's directional view on SRTS stock.
SRTS cash-secured put setup
The SRTS cash-secured put below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With SRTS near $3.63, the first option leg uses a $3.45 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SRTS chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 SRTS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $3.45 | N/A |
SRTS cash-secured put risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
SRTS cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on SRTS. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
When traders use cash-secured put on SRTS
Cash-secured puts on SRTS earn premium while a trader waits to acquire SRTS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SRTS.
SRTS thesis for this cash-secured put
The market-implied 1-standard-deviation range for SRTS extends from approximately $2.50 on the downside to $4.76 on the upside. A SRTS cash-secured put lets a trader earn premium while waiting to acquire SRTS at the strike price; the strategy is most attractive when the trader is comfortable holding the underlying at that level and IV is rich enough to compensate for the assignment risk. Current SRTS IV rank near 23.96% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on SRTS at 108.90%. As a Healthcare name, SRTS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SRTS-specific events.
SRTS cash-secured put positions are structurally neutral to slightly bullish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. SRTS positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SRTS alongside the broader basket even when SRTS-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on SRTS carry tail risk when realized volatility exceeds the implied move; review historical SRTS earnings reactions and macro stress periods before sizing. Always rebuild the position from current SRTS chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on SRTS?
- A cash-secured put on SRTS is the cash-secured put strategy applied to SRTS (stock). The strategy is structurally neutral to slightly bullish: A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike. With SRTS stock trading near $3.63, the strikes shown on this page are snapped to the nearest listed SRTS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SRTS cash-secured put max profit and max loss calculated?
- Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium. For the SRTS cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 108.90%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SRTS cash-secured put?
- The breakeven for the SRTS cash-secured put priced on this page is no defined breakeven on the modeled curve at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current SRTS market-implied 1-standard-deviation expected move is approximately 31.22%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a cash-secured put on SRTS?
- Cash-secured puts on SRTS earn premium while a trader waits to acquire SRTS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SRTS.
- How does current SRTS implied volatility affect this cash-secured put?
- SRTS ATM IV is at 108.90% with IV rank near 23.96%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.