TTAN Cash-Secured Put Strategy
TTAN (ServiceTitan, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
ServiceTitan, Inc. engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.
TTAN (ServiceTitan, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $5.35B, a beta of -0.23 versus the broader market, a 52-week range of 54.17-131.33, average daily share volume of 1.2M, a public-listing history dating back to 2024, approximately 3K full-time employees. These structural characteristics shape how TTAN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.23 indicates TTAN has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a cash-secured put on TTAN?
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 TTAN snapshot
As of May 15, 2026, spot at $58.70, ATM IV 73.80%, IV rank 51.34%, expected move 21.16%. The cash-secured put on TTAN 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 63-day expiry.
Why this cash-secured put structure on TTAN specifically: TTAN IV at 73.80% is mid-range versus its 1-year history, so the credit collected on a TTAN cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 21.16% (roughly $12.42 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TTAN expiries trade a higher absolute premium for lower per-day decay. Position sizing on TTAN should anchor to the underlying notional of $58.70 per share and to the trader's directional view on TTAN stock.
TTAN cash-secured put setup
The TTAN 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 TTAN near $58.70, the first option leg uses a $55.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TTAN chain at a 63-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 TTAN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $55.00 | $4.90 |
TTAN cash-secured put risk and reward
- Net Premium / Debit
- +$490.00
- Max Profit (per contract)
- $490.00
- Max Loss (per contract)
- -$5,009.00
- Breakeven(s)
- $50.10
- Risk / Reward Ratio
- 0.098
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
TTAN cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on TTAN. 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% | -$5,009.00 |
| $12.99 | -77.9% | -$3,711.22 |
| $25.97 | -55.8% | -$2,413.44 |
| $38.94 | -33.7% | -$1,115.66 |
| $51.92 | -11.5% | +$182.12 |
| $64.90 | +10.6% | +$490.00 |
| $77.88 | +32.7% | +$490.00 |
| $90.85 | +54.8% | +$490.00 |
| $103.83 | +76.9% | +$490.00 |
| $116.81 | +99.0% | +$490.00 |
When traders use cash-secured put on TTAN
Cash-secured puts on TTAN earn premium while a trader waits to acquire TTAN stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning TTAN.
TTAN thesis for this cash-secured put
The market-implied 1-standard-deviation range for TTAN extends from approximately $46.28 on the downside to $71.12 on the upside. A TTAN cash-secured put lets a trader earn premium while waiting to acquire TTAN 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 TTAN IV rank near 51.34% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on TTAN should anchor more to the directional view and the expected-move geometry. As a Technology name, TTAN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TTAN-specific events.
TTAN 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. TTAN positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TTAN alongside the broader basket even when TTAN-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on TTAN carry tail risk when realized volatility exceeds the implied move; review historical TTAN earnings reactions and macro stress periods before sizing. Always rebuild the position from current TTAN chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on TTAN?
- A cash-secured put on TTAN is the cash-secured put strategy applied to TTAN (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 TTAN stock trading near $58.70, the strikes shown on this page are snapped to the nearest listed TTAN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TTAN 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 TTAN cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 73.80%), the computed maximum profit is $490.00 per contract and the computed maximum loss is -$5,009.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TTAN cash-secured put?
- The breakeven for the TTAN cash-secured put priced on this page is roughly $50.10 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 TTAN market-implied 1-standard-deviation expected move is approximately 21.16%; 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 TTAN?
- Cash-secured puts on TTAN earn premium while a trader waits to acquire TTAN stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning TTAN.
- How does current TTAN implied volatility affect this cash-secured put?
- TTAN ATM IV is at 73.80% with IV rank near 51.34%, 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.