XPRO Cash-Secured Put Strategy
XPRO (Expro Group Holdings N.V.), in the Energy sector, (Oil & Gas Equipment & Services industry), listed on NYSE.
Expro Group Holdings N.V. engages in the provision of energy services in North and Latin America, Europe and Sub-Saharan Africa, the Middle East and North Africa, and the Asia-Pacific. The company provides well construction services, such as technology solutions in drilling, tubular running services, and cementing and tubulars; and well management services, including well flow management, subsea well access, and well intervention and integrity services. It serves exploration and production companies in onshore and offshore environments in approximately 60 countries with approximately 100 locations. The company was founded in 1938 and is based in Houston, Texas.
XPRO (Expro Group Holdings N.V.) trades in the Energy sector, specifically Oil & Gas Equipment & Services, with a market capitalization of approximately $1.78B, a trailing P/E of 48.48, a beta of 1.08 versus the broader market, a 52-week range of 7.57-18.73, average daily share volume of 1.2M, a public-listing history dating back to 2013, approximately 9K full-time employees. These structural characteristics shape how XPRO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.08 places XPRO roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 48.48 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a cash-secured put on XPRO?
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 XPRO snapshot
As of May 15, 2026, spot at $15.84, ATM IV 81.50%, IV rank 25.16%, expected move 23.37%. The cash-secured put on XPRO 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 XPRO specifically: XPRO IV at 81.50% is on the cheap side of its 1-year range, which means a premium-selling XPRO cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 23.37% (roughly $3.70 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 XPRO expiries trade a higher absolute premium for lower per-day decay. Position sizing on XPRO should anchor to the underlying notional of $15.84 per share and to the trader's directional view on XPRO stock.
XPRO cash-secured put setup
The XPRO 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 XPRO near $15.84, the first option leg uses a $15.05 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed XPRO 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 XPRO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $15.05 | N/A |
XPRO 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.
XPRO cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on XPRO. 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 XPRO
Cash-secured puts on XPRO earn premium while a trader waits to acquire XPRO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning XPRO.
XPRO thesis for this cash-secured put
The market-implied 1-standard-deviation range for XPRO extends from approximately $12.14 on the downside to $19.54 on the upside. A XPRO cash-secured put lets a trader earn premium while waiting to acquire XPRO 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 XPRO IV rank near 25.16% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on XPRO at 81.50%. As a Energy name, XPRO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to XPRO-specific events.
XPRO 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. XPRO positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move XPRO alongside the broader basket even when XPRO-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on XPRO carry tail risk when realized volatility exceeds the implied move; review historical XPRO earnings reactions and macro stress periods before sizing. Always rebuild the position from current XPRO chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on XPRO?
- A cash-secured put on XPRO is the cash-secured put strategy applied to XPRO (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 XPRO stock trading near $15.84, the strikes shown on this page are snapped to the nearest listed XPRO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are XPRO 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 XPRO cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 81.50%), 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 XPRO cash-secured put?
- The breakeven for the XPRO 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 XPRO market-implied 1-standard-deviation expected move is approximately 23.37%; 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 XPRO?
- Cash-secured puts on XPRO earn premium while a trader waits to acquire XPRO stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning XPRO.
- How does current XPRO implied volatility affect this cash-secured put?
- XPRO ATM IV is at 81.50% with IV rank near 25.16%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.