STKS Cash-Secured Put Strategy
STKS (The ONE Group Hospitality, Inc.), in the Consumer Cyclical sector, (Restaurants industry), listed on NASDAQ.
The ONE Group Hospitality, Inc. is a global hospitality firm primarily involved in the development, ownership, operation, management, and licensing of restaurants and lounges. The company conducts its business through its distinct STK, Kona Grill, and ONE Hospitality segments. Beyond its own branded establishments, it provides comprehensive, turn-key food and beverage management and advisory solutions for diverse hospitality venues, including hotels, casinos, and other sites. These integrated services encompass the development, management, and operation of various outlets like restaurants, bars, rooftop spaces, pool areas, banqueting facilities, catering, private dining rooms, room service, and mini-bars. The company's main restaurant brands are STK and Kona Grill. As of December 31, 2021, The ONE Group's extensive portfolio included 60 owned, operated, managed, or licensed venues globally.
STKS (The ONE Group Hospitality, Inc.) trades in the Consumer Cyclical sector, specifically Restaurants, with a market capitalization of approximately $62.8M, a beta of 1.35 versus the broader market, a 52-week range of 1.65-5.26, average daily share volume of 32K, a public-listing history dating back to 2014, approximately 11K full-time employees. These structural characteristics shape how STKS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.35 indicates STKS has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a cash-secured put on STKS?
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 STKS snapshot
As of June 29, 2026, spot at $2.04, ATM IV 236.80%, IV rank 48.31%, expected move 67.89%. The cash-secured put on STKS 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 18-day expiry.
Why this cash-secured put structure on STKS specifically: STKS IV at 236.80% is mid-range versus its 1-year history, so the credit collected on a STKS cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 67.89% (roughly $1.38 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated STKS expiries trade a higher absolute premium for lower per-day decay. Position sizing on STKS should anchor to the underlying notional of $2.04 per share and to the trader's directional view on STKS stock.
STKS cash-secured put setup
The STKS 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 STKS near $2.04, the first option leg uses a $1.94 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed STKS chain at a 18-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 STKS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $1.94 | N/A |
STKS 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.
STKS cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on STKS. 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 STKS
Cash-secured puts on STKS earn premium while a trader waits to acquire STKS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning STKS.
STKS thesis for this cash-secured put
The market-implied 1-standard-deviation range for STKS extends from approximately $0.66 on the downside to $3.42 on the upside. A STKS cash-secured put lets a trader earn premium while waiting to acquire STKS 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 STKS IV rank near 48.31% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on STKS should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, STKS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to STKS-specific events.
STKS 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. STKS positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move STKS alongside the broader basket even when STKS-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on STKS carry tail risk when realized volatility exceeds the implied move; review historical STKS earnings reactions and macro stress periods before sizing. Always rebuild the position from current STKS chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on STKS?
- A cash-secured put on STKS is the cash-secured put strategy applied to STKS (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 STKS stock trading near $2.04, the strikes shown on this page are snapped to the nearest listed STKS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are STKS 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 STKS cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 236.80%), 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 STKS cash-secured put?
- The breakeven for the STKS 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 STKS market-implied 1-standard-deviation expected move is approximately 67.89%; 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 STKS?
- Cash-secured puts on STKS earn premium while a trader waits to acquire STKS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning STKS.
- How does current STKS implied volatility affect this cash-secured put?
- STKS ATM IV is at 236.80% with IV rank near 48.31%, 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.