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, a law enforcement search engine that enables investigators to search through criminal justice records from across jurisdictions to generate tactical leads and solve cases; CaseBuilder, an investigative management system for tracking, reporting, and collaborating on cases; ResourceRouter, a software that directs deployment of patrol and community anti-violence resources; PlateRanger powered by Rekor, an advanced license plate recognition (ALPR) 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 save critical minutes for first responders to arrive. It 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. SoundThinking, Inc. was founded in 1996 and is headquartered in Fremont, California.

SSTI (SoundThinking, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $79.5M, a beta of 1.17 versus the broader market, a 52-week range of 5.78-16.92, average daily share volume of 129K, a public-listing history dating back to 2017, approximately 316 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 1.17 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.

Current SSTI snapshot

As of May 15, 2026, spot at $6.61, ATM IV 90.70%, IV rank 34.70%, expected move 26.00%. The cash-secured put on SSTI 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 SSTI specifically: SSTI IV at 90.70% is mid-range versus its 1-year history, so the credit collected on a SSTI cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 26.00% (roughly $1.72 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 SSTI expiries trade a higher absolute premium for lower per-day decay. Position sizing on SSTI should anchor to the underlying notional of $6.61 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 near $6.61, the first option leg uses a $6.28 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 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 SSTI shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$6.28N/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 $4.89 on the downside to $8.33 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 34.70% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on SSTI should anchor more to the directional view and the expected-move geometry. 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 trading near $6.61, the strikes shown on this page are snapped to the nearest listed SSTI chain strike and the premiums come straight from the end-of-day 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 90.70%), 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 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 SSTI market-implied 1-standard-deviation expected move is approximately 26.00%; 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 90.70% with IV rank near 34.70%, 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.

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