TRLV Cash-Secured Put Strategy
TRLV (Trulieve Cannabis Corp.), in the Healthcare sector, (Medical - Pharmaceuticals industry), listed on NYSE.
Trulieve Cannabis Corp. engages in the cultivation, processing, manufacturing, and retail distribution of medical and adult-use cannabis products. It cultivates and produces its products in-house and distributes to its branded stores, as well as directly to patients via home delivery. The company was founded by Kim Rivers & Jason Pernell on September 17, 1940 and is headquartered in Tallahassee, FL.
TRLV (Trulieve Cannabis Corp.) trades in the Healthcare sector, specifically Medical - Pharmaceuticals, with a market capitalization of approximately $1.55B, a beta of 1.72 versus the broader market, a 52-week range of 4.616-13.28, average daily share volume of 929K, a public-listing history dating back to 2018, approximately 5K full-time employees. These structural characteristics shape how TRLV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.72 indicates TRLV 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 TRLV?
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.
TRLV snapshot
As of August 14, 2026, spot at $9.56, ATM IV 83.80%, expected move 24.02%. The cash-secured put on TRLV 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 TRLV specifically: IV rank is unavailable in the current snapshot, so regime-based timing for TRLV is inferred from ATM IV at 83.80% alone, with a market-implied 1-standard-deviation move of approximately 24.02% (roughly $2.30 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 TRLV expiries trade a higher absolute premium for lower per-day decay. Position sizing on TRLV should anchor to the underlying notional of $9.56 per share and to the trader's directional view on TRLV stock.
TRLV cash-secured put setup
The TRLV 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 TRLV at $9.56 on that close, the first option leg uses a $9.08 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TRLV 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 TRLV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $9.08 | N/A |
TRLV 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.
TRLV cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on TRLV. 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 TRLV
Cash-secured puts on TRLV earn premium while a trader waits to acquire TRLV stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning TRLV.
TRLV thesis for this cash-secured put
The market-implied 1-standard-deviation range for TRLV extends from approximately $7.26 on the downside to $11.86 on the upside. A TRLV cash-secured put lets a trader earn premium while waiting to acquire TRLV 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. As a Healthcare name, TRLV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TRLV-specific events.
TRLV 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. TRLV positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TRLV alongside the broader basket even when TRLV-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on TRLV carry tail risk when realized volatility exceeds the implied move; review historical TRLV earnings reactions and macro stress periods before sizing. Always rebuild the position from current TRLV chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on TRLV?
- A cash-secured put on TRLV is the cash-secured put strategy applied to TRLV (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 TRLV stock at $9.56 on the most recent close, the strikes shown on this page are snapped to the nearest listed TRLV chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are TRLV 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 TRLV cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 83.80%), 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 TRLV cash-secured put?
- The breakeven for the TRLV 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 TRLV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 24.02%; 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 TRLV?
- Cash-secured puts on TRLV earn premium while a trader waits to acquire TRLV stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning TRLV.
- How does current TRLV implied volatility affect this cash-secured put?
- Current TRLV ATM IV is 83.80%; IV rank context is unavailable in the current snapshot.