How are AZYY 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 AZYY cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.80%), the computed maximum profit is $96.00 per contract and the computed maximum loss is -$1,403.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the AZYY cash-secured put priced on this page is roughly $14.04 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 AZYY market-implied 1-standard-deviation expected move is approximately 15.42%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

AZYY ATM IV is at 53.80% with IV rank near 4.43%, 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.

AZYY Cash-Secured Put Strategy

AZYY (GraniteShares YieldBOOST AMZN ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

The GraniteShares YieldBOOST AMZN ETF (AZYY) is primarily designed to generate income equivalent to twice (200%) the proceeds typically derived from selling options on Amazon (AMZN). This is achieved by writing options contracts on specialized leveraged exchange-traded funds (ETFs) that are constructed to deliver two times (200%) the daily performance of the underlying Amazon stock. As a secondary goal, the Fund aims to capture the performance of these amplified ETFs, though any potential investment gains are subject to a specified maximum. Additionally, the Fund reserves the right to implement measures intended to protect against downside risk, which could consequently influence the overall net income earned.

AZYY (GraniteShares YieldBOOST AMZN ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $456,697, a beta of 0.99 versus the broader market, a 52-week range of 14.95-25.32, average daily share volume of 3K, a public-listing history dating back to 2025. These structural characteristics shape how AZYY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.99 places AZYY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AZYY 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 AZYY?

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 AZYY snapshot

As of June 30, 2026, spot at $15.32, ATM IV 53.80%, IV rank 4.43%, expected move 15.42%. The cash-secured put on AZYY 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 17-day expiry.

Why this cash-secured put structure on AZYY specifically: AZYY IV at 53.80% is on the cheap side of its 1-year range, which means a premium-selling AZYY cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.42% (roughly $2.36 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AZYY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AZYY should anchor to the underlying notional of $15.32 per share and to the trader's directional view on AZYY etf.

AZYY cash-secured put setup

The AZYY 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 AZYY near $15.32, the first option leg uses a $15.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AZYY chain at a 17-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 AZYY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$15.00	$0.96

AZYY cash-secured put risk and reward

Net Premium / Debit: +$96.00
Max Profit (per contract): $96.00
Max Loss (per contract): -$1,403.00
Breakeven(s): $14.04
Risk / Reward Ratio: 0.068

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

AZYY cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on AZYY. 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	-99.9%	-$1,403.00
$3.40	-77.8%	-$1,064.38
$6.78	-55.7%	-$725.75
$10.17	-33.6%	-$387.13
$13.55	-11.5%	-$48.51
$16.94	+10.6%	+$96.00
$20.33	+32.7%	+$96.00
$23.71	+54.8%	+$96.00
$27.10	+76.9%	+$96.00
$30.49	+99.0%	+$96.00

When traders use cash-secured put on AZYY

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

AZYY thesis for this cash-secured put

The market-implied 1-standard-deviation range for AZYY extends from approximately $12.96 on the downside to $17.68 on the upside. A AZYY cash-secured put lets a trader earn premium while waiting to acquire AZYY 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 AZYY IV rank near 4.43% 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 AZYY at 53.80%. As a Financial Services name, AZYY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AZYY-specific events.

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

Frequently asked questions

What is a cash-secured put on AZYY?: A cash-secured put on AZYY is the cash-secured put strategy applied to AZYY (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 AZYY etf trading near $15.32, the strikes shown on this page are snapped to the nearest listed AZYY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are AZYY 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 AZYY cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.80%), the computed maximum profit is $96.00 per contract and the computed maximum loss is -$1,403.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AZYY cash-secured put?: The breakeven for the AZYY cash-secured put priced on this page is roughly $14.04 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 AZYY market-implied 1-standard-deviation expected move is approximately 15.42%; 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 AZYY?: Cash-secured puts on AZYY earn premium while a trader waits to acquire AZYY etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning AZYY.
How does current AZYY implied volatility affect this cash-secured put?: AZYY ATM IV is at 53.80% with IV rank near 4.43%, 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.