UNIT Cash-Secured Put Strategy
UNIT (Uniti Group Inc.), in the Communication Services sector, (Telecommunications Services industry), listed on NASDAQ.
Uniti operates as a self-managed real estate investment trust, primarily focused on acquiring and developing essential communications infrastructure. The company is a key supplier of wireless infrastructure solutions within the broader telecommunications sector. As of September 30, 2020, Uniti's extensive portfolio included 6.7 million fiber strand miles and various other communication-related real estate holdings throughout the United States.
UNIT (Uniti Group Inc.) trades in the Communication Services sector, specifically Telecommunications Services, with a market capitalization of approximately $2.69B, a trailing P/E of 2.35, a beta of 1.42 versus the broader market, a 52-week range of 5.3-12.938, average daily share volume of 2.6M, a public-listing history dating back to 2015, approximately 758 full-time employees. These structural characteristics shape how UNIT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.42 indicates UNIT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 2.35 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. UNIT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a cash-secured put on UNIT?
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 UNIT snapshot
As of June 29, 2026, spot at $11.29, ATM IV 424.30%, IV rank 100.00%, expected move 121.64%. The cash-secured put on UNIT 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 UNIT specifically: UNIT IV at 424.30% is rich versus its 1-year range, which favors premium-selling structures like a UNIT cash-secured put, with a market-implied 1-standard-deviation move of approximately 121.64% (roughly $13.73 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 UNIT expiries trade a higher absolute premium for lower per-day decay. Position sizing on UNIT should anchor to the underlying notional of $11.29 per share and to the trader's directional view on UNIT stock.
UNIT cash-secured put setup
The UNIT 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 UNIT near $11.29, the first option leg uses a $10.73 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UNIT 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 UNIT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $10.73 | N/A |
UNIT 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.
UNIT cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on UNIT. 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 UNIT
Cash-secured puts on UNIT earn premium while a trader waits to acquire UNIT stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning UNIT.
UNIT thesis for this cash-secured put
The market-implied 1-standard-deviation range for UNIT extends from approximately $-2.44 on the downside to $25.02 on the upside. A UNIT cash-secured put lets a trader earn premium while waiting to acquire UNIT 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 UNIT 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 UNIT at 424.30%. As a Communication Services name, UNIT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UNIT-specific events.
UNIT 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. UNIT positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move UNIT alongside the broader basket even when UNIT-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on UNIT carry tail risk when realized volatility exceeds the implied move; review historical UNIT earnings reactions and macro stress periods before sizing. Always rebuild the position from current UNIT chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on UNIT?
- A cash-secured put on UNIT is the cash-secured put strategy applied to UNIT (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 UNIT stock trading near $11.29, the strikes shown on this page are snapped to the nearest listed UNIT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are UNIT 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 UNIT cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 424.30%), 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 UNIT cash-secured put?
- The breakeven for the UNIT 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 UNIT market-implied 1-standard-deviation expected move is approximately 121.64%; 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 UNIT?
- Cash-secured puts on UNIT earn premium while a trader waits to acquire UNIT stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning UNIT.
- How does current UNIT implied volatility affect this cash-secured put?
- UNIT ATM IV is at 424.30% 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.