How are AMZU 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 AMZU cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 53.10%), the computed maximum profit is $157.50 per contract and the computed maximum loss is -$3,541.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AMZU cash-secured put?

The breakeven for the AMZU cash-secured put priced on this page is roughly $35.43 at expiration, derived from the August 14, 2026 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 AMZU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.22%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AMZU implied volatility affect this cash-secured put?

AMZU ATM IV is at 53.10% with IV rank near 13.43%, 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.

AMZU Cash-Secured Put Strategy

AMZU (Direxion Daily AMZN Bull 2X ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

The Direxion Daily AMZN Bull 2X ETF and the Direxion Daily AMZN Bear 1X ETF are designed to achieve distinct daily investment returns, calculated before any fees or operating expenses. The Bull 2X ETF aims to deliver daily results equivalent to two times (200%) the performance of Amazon.com, Inc. (NASDAQ: AMZN) common stock. Conversely, the Bear 1X ETF seeks to generate daily returns that mirror the inverse (or opposite) performance of AMZN's shares.

AMZU (Direxion Daily AMZN Bull 2X ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $352.8M, a beta of 2.92 versus the broader market, a 52-week range of 24.54-47.14, average daily share volume of 3.3M, a public-listing history dating back to 2022. These structural characteristics shape how AMZU etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.92 indicates AMZU has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. AMZU 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 AMZU?

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.

AMZU snapshot

As of August 14, 2026, spot at $38.98, ATM IV 53.10%, IV rank 13.43%, expected move 15.22%. The cash-secured put on AMZU below is built from the August 14, 2026 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 AMZU specifically: AMZU IV at 53.10% is on the cheap side of its 1-year range, which means a premium-selling AMZU cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.22% (roughly $5.93 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 AMZU expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMZU should anchor to the underlying notional of $38.98 per share and to the trader's directional view on AMZU etf.

AMZU cash-secured put setup

The AMZU cash-secured put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMZU at $38.98 on that close, the first option leg uses a $37.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMZU 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 AMZU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$37.00	$1.58

AMZU cash-secured put risk and reward

Net Premium / Debit: +$157.50
Max Profit (per contract): $157.50
Max Loss (per contract): -$3,541.50
Breakeven(s): $35.43
Risk / Reward Ratio: 0.044

Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.

AMZU cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on AMZU. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$3,541.50
$8.63	-77.9%	-$2,679.74
$17.25	-55.8%	-$1,817.98
$25.86	-33.7%	-$956.22
$34.48	-11.5%	-$94.46
$43.10	+10.6%	+$157.50
$51.72	+32.7%	+$157.50
$60.33	+54.8%	+$157.50
$68.95	+76.9%	+$157.50
$77.57	+99.0%	+$157.50

When traders use cash-secured put on AMZU

Cash-secured puts on AMZU earn premium while a trader waits to acquire AMZU etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AMZU.

AMZU thesis for this cash-secured put

The market-implied 1-standard-deviation range for AMZU extends from approximately $33.05 on the downside to $44.91 on the upside. A AMZU cash-secured put lets a trader earn premium while waiting to acquire AMZU 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 AMZU IV rank near 13.43% 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 AMZU at 53.10%. As a Financial Services name, AMZU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMZU-specific events.

AMZU 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. AMZU positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMZU alongside the broader basket even when AMZU-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on AMZU carry tail risk when realized volatility exceeds the implied move; review historical AMZU earnings reactions and macro stress periods before sizing. Always rebuild the position from current AMZU chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on AMZU?: A cash-secured put on AMZU is the cash-secured put strategy applied to AMZU (etf). 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 AMZU etf at $38.98 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed AMZU chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AMZU 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 AMZU cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 53.10%), the computed maximum profit is $157.50 per contract and the computed maximum loss is -$3,541.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AMZU cash-secured put?: The breakeven for the AMZU cash-secured put priced on this page is roughly $35.43 at expiration, derived from the August 14, 2026 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 AMZU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.22%; 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 AMZU?: Cash-secured puts on AMZU earn premium while a trader waits to acquire AMZU etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AMZU.
How does current AMZU implied volatility affect this cash-secured put?: AMZU ATM IV is at 53.10% with IV rank near 13.43%, 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.