SSTI Cash-Secured Put Strategy

SSTI (SoundThinking, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.

SoundThinking, Inc., a public safety technology company, provides data-driven solutions and strategic advisory services for law enforcement, security teams, and civic leadership. Its SafetySmart platform that includes data-driven tools comprising ShotSpotter, an outdoor gunshot detection, location, and alerting system; CrimeTracer, an agency-wide crime data and intelligence platform that enables investigators, analysts, patrol officers and command staff to search through criminal justice records from across jurisdictions, leverage dashboards, and AI-assisted tools to generate tactical leads and make intelligent connections to solve cases; CaseBuilder, a one-stop investigative case management system for tracking, reporting and collaborating on cases; ResourceRouter, a software that directs the deployment of patrol and community anti-violence resources; PlateRanger powered by Rekor, an automatic license plate recognition and vehicle identification solution; and SafePointe, an artificial intelligence-based weapons detection system. The company also offers ShotSpotter for Campus and ShotSpotter for Corporate, to universities, corporate campuses, and key infrastructure centers to mitigate risk and enhance security by notifying authorities of outdoor gunfire incidents and saving critical minutes for first responders to arrive. In addition, it provides perimeter-based sniper gunshot detection solutions. The company sells its solutions through its direct sales teams. The company was formerly known as ShotSpotter, Inc. and changed its name to SoundThinking, Inc. in April 2023.

SSTI (SoundThinking, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $105.6M, a beta of 1.16 versus the broader market, a 52-week range of 5.78-13.34, average daily share volume of 111K, a public-listing history dating back to 2017, approximately 304 full-time employees. These structural characteristics shape how SSTI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.16 places SSTI 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 SSTI?

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.

SSTI snapshot

As of August 14, 2026, spot at $6.13, ATM IV 242.90%, IV rank 100.00%, expected move 69.64%. The cash-secured put on SSTI below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this cash-secured put structure on SSTI specifically: SSTI IV at 242.90% is rich versus its 1-year range, which favors premium-selling structures like a SSTI cash-secured put, with a market-implied 1-standard-deviation move of approximately 69.64% (roughly $4.27 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SSTI expiries trade a higher absolute premium for lower per-day decay. Position sizing on SSTI should anchor to the underlying notional of $6.13 per share and to the trader's directional view on SSTI stock.

SSTI cash-secured put setup

The SSTI 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 SSTI at $6.13 on that close, the first option leg uses a $5.82 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SSTI chain at a 35-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 SSTI shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$5.82N/A

SSTI 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.

SSTI cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on SSTI. 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 SSTI

Cash-secured puts on SSTI earn premium while a trader waits to acquire SSTI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SSTI.

SSTI thesis for this cash-secured put

The market-implied 1-standard-deviation range for SSTI extends from approximately $1.86 on the downside to $10.40 on the upside. A SSTI cash-secured put lets a trader earn premium while waiting to acquire SSTI 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 SSTI IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on SSTI at 242.90%. As a Technology name, SSTI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SSTI-specific events.

SSTI 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. SSTI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SSTI alongside the broader basket even when SSTI-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on SSTI carry tail risk when realized volatility exceeds the implied move; review historical SSTI earnings reactions and macro stress periods before sizing. Always rebuild the position from current SSTI chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on SSTI?
A cash-secured put on SSTI is the cash-secured put strategy applied to SSTI (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 SSTI stock at $6.13 on the most recent close, the strikes shown on this page are snapped to the nearest listed SSTI chain strike and the premiums come straight from that session's bid/ask midpoint.
How are SSTI 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 SSTI cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 242.90%), 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 SSTI cash-secured put?
The breakeven for the SSTI cash-secured put priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The SSTI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 69.64%; 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 SSTI?
Cash-secured puts on SSTI earn premium while a trader waits to acquire SSTI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning SSTI.
How does current SSTI implied volatility affect this cash-secured put?
SSTI ATM IV is at 242.90% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

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