Cerebras Systems (CBRS) Protective Put Calculator
Calculator · free · no signup · CBRSPrice a protective put, zero-cost collar, or put spread on Cerebras Systems. Annual cost, max loss, upside cap, tax treatment, auto-filled from current CBRS option chain.
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Request beta access →About Cerebras Systems
Cerebras Systems (CBRS) is a public Semiconductors company, incorporated in Delaware and headquartered in Sunnyvale, CA. IPO'd May 14, 2026.
Last close: $215.08 per share (as of 2026-07-13).
IPO May 2026; wafer-scale AI compute.
Equity grants at Cerebras Systems typically include incentive stock options (ISOs), non-qualified stock options (NSOs), and restricted stock units (RSUs).
Cerebras Systems Inc., headquartered in Sunnyvale, California, develops semiconductors, supercomputers, and related software to power artificial intelligence deep-learning applications such as inference engines. Products include its wafer scale engine (WSE)-3 semiconductors, its CS-3 supercomputers, and its "AI inference cloud" and "AI training cloud" APIs, which allow users to access the company's computing power without buying its hardware. The company also builds data centers using its processors and supercomputers to provide cloud computing services directly to clients.
Source: Wikipedia (CC BY-SA 4.0)
Founded in 2016 by Andrew Feldman, Gary Lauterbach, Michael James, Sean Lie, and Jean-Philippe Fricker (the SeaMicro team that sold to AMD in 2012), Cerebras builds wafer-scale AI compute from its Sunnyvale headquarters. The flagship WSE-3 packs 4 trillion transistors onto a single TSMC 5nm wafer, powering CS-3 systems and a high-speed inference cloud. Customers include G42's Condor Galaxy supercomputers and Lockheed Martin. After CFIUS scrutiny of the G42 stake delayed its 2024 S-1, Cerebras refiled and is targeting a Nasdaq debut under CBRS.
Sources: en.wikipedia.org · cerebras.ai · finance.yahoo.com
Equity comp at Cerebras Systems
- Original S-1 filed September 2024 was paused due to CFIUS review of UAE-based G42's investment (G42 accounted for 83% of 2023 revenue and 97% of 2024 hardware sales). CFIUS clearance reportedly obtained in early 2025 but IPO remained on hold; company raised $1.1B at an $8.1B valuation. Refiled S-1 in April 2026 with G42 removed from the investor list, targeting a May 14, 2026 NASDAQ listing under ticker CBRS. Holders face a concentrated tax-withholding event at IPO (about $230M earmarked for RSU settlement obligations) after roughly 18 months of regulatory uncertainty.
- RSUs use double-trigger vesting. Two things must both happen before the shares are yours: (1) the normal time-based vesting completes, and (2) the company has a liquidity event (an IPO or an acquisition). Until both happen, you do not yet own the shares and you do not owe tax on them.
Sources: sec.gov · techstartups.com
Researched 2026-05-11.
OptionsAhoy is an independent tool and is not affiliated with, endorsed by, or sponsored by Cerebras Systems.
A protective put caps your downside on the CBRS position at a chosen floor; a zero-cost collar pays for that floor by capping the upside. This calculator prices both structures off the current CBRS option chain, with annual cost, max loss, and tax-treatment notes.
Example: a 5,000-share CBRS position at $215.08 is worth $1,075,400. A 1-year 30%-OTM put on that position typically runs 2-4% of position value per year (about $21,508 to $43,016) before any premium offset from a short call. The calculator prices both structures off CBRS's current option chain so you see the actual cost for your chosen floor, tenor, and cap.
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Cerebras Systems equity questions
- How much does it cost to hedge CBRS stock?
- The cost of a protective put depends on how far below the current price you set the floor, how long the protection lasts, and CBRS's option-implied volatility. A zero-cost collar lowers that cost by selling away some upside. The calculator above prices both structures off the current CBRS option chain and shows the annual cost, maximum loss, and tax treatment.
- Does Cerebras Systems grant ISOs, NSOs, or RSUs?
- Equity compensation at Cerebras Systems typically takes the form of incentive stock options (ISOs), non-qualified stock options (NSOs), and restricted stock units (RSUs). Incentive stock options can trigger the alternative minimum tax (AMT) when you exercise. Restricted stock units are taxed as ordinary income when they vest.
- When did the Cerebras Systems IPO lockup expire?
- Cerebras Systems (CBRS) went public on May 14, 2026. The standard post-IPO lockup runs 180 days, so employee and insider shares generally became sellable around November 10, 2026. Confirm against your own grant paperwork, since some lockups release early or in stages.
- Do Cerebras Systems RSUs use double-trigger vesting?
- Yes. Cerebras Systems restricted stock units (RSUs) vest only when two things both happen: the time-based schedule completes, and the company has a liquidity event such as an initial public offering (IPO) or an acquisition. Until both occur you do not own the shares and owe no tax on them.
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