SSRM Cash-Secured Put Strategy
SSRM (SSR Mining Inc.), in the Basic Materials sector, (Gold industry), listed on NASDAQ.
SSR Mining Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina. The company was formerly known as Silver Standard Resources Inc. and changed its name to SSR Mining Inc. in August 2017. SSR Mining Inc. was incorporated in 1946 and is based in Denver, Colorado.
SSRM (SSR Mining Inc.) trades in the Basic Materials sector, specifically Gold, with a market capitalization of approximately $7.21B, a trailing P/E of 31.00, a beta of 0.86 versus the broader market, a 52-week range of 10.47-36.52, average daily share volume of 4.1M, a public-listing history dating back to 1996, approximately 2K full-time employees. These structural characteristics shape how SSRM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.86 places SSRM 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 SSRM?
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 SSRM snapshot
As of May 15, 2026, spot at $31.27, ATM IV 60.30%, IV rank 40.96%, expected move 17.29%. The cash-secured put on SSRM 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 SSRM specifically: SSRM IV at 60.30% is mid-range versus its 1-year history, so the credit collected on a SSRM cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 17.29% (roughly $5.41 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 SSRM expiries trade a higher absolute premium for lower per-day decay. Position sizing on SSRM should anchor to the underlying notional of $31.27 per share and to the trader's directional view on SSRM stock.
SSRM cash-secured put setup
The SSRM 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 SSRM near $31.27, the first option leg uses a $30.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SSRM 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 SSRM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $30.00 | $1.70 |
SSRM cash-secured put risk and reward
- Net Premium / Debit
- +$170.00
- Max Profit (per contract)
- $170.00
- Max Loss (per contract)
- -$2,829.00
- Breakeven(s)
- $28.30
- Risk / Reward Ratio
- 0.060
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
SSRM cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on SSRM. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$2,829.00 |
| $6.92 | -77.9% | -$2,137.71 |
| $13.84 | -55.8% | -$1,446.43 |
| $20.75 | -33.6% | -$755.14 |
| $27.66 | -11.5% | -$63.85 |
| $34.57 | +10.6% | +$170.00 |
| $41.49 | +32.7% | +$170.00 |
| $48.40 | +54.8% | +$170.00 |
| $55.31 | +76.9% | +$170.00 |
| $62.23 | +99.0% | +$170.00 |
When traders use cash-secured put on SSRM
Cash-secured puts on SSRM earn premium while a trader waits to acquire SSRM stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SSRM.
SSRM thesis for this cash-secured put
The market-implied 1-standard-deviation range for SSRM extends from approximately $25.86 on the downside to $36.68 on the upside. A SSRM cash-secured put lets a trader earn premium while waiting to acquire SSRM 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 SSRM IV rank near 40.96% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on SSRM should anchor more to the directional view and the expected-move geometry. As a Basic Materials name, SSRM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SSRM-specific events.
SSRM 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. SSRM positions also carry Basic Materials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SSRM alongside the broader basket even when SSRM-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on SSRM carry tail risk when realized volatility exceeds the implied move; review historical SSRM earnings reactions and macro stress periods before sizing. Always rebuild the position from current SSRM chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on SSRM?
- A cash-secured put on SSRM is the cash-secured put strategy applied to SSRM (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 SSRM stock trading near $31.27, the strikes shown on this page are snapped to the nearest listed SSRM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SSRM 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 SSRM cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 60.30%), the computed maximum profit is $170.00 per contract and the computed maximum loss is -$2,829.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SSRM cash-secured put?
- The breakeven for the SSRM cash-secured put priced on this page is roughly $28.30 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 SSRM market-implied 1-standard-deviation expected move is approximately 17.29%; 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 SSRM?
- Cash-secured puts on SSRM earn premium while a trader waits to acquire SSRM stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SSRM.
- How does current SSRM implied volatility affect this cash-secured put?
- SSRM ATM IV is at 60.30% with IV rank near 40.96%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.