How are BEDZ 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 BEDZ cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.20%), the computed maximum profit is $184.00 per contract and the computed maximum loss is -$3,315.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the BEDZ cash-secured put priced on this page is roughly $33.16 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 BEDZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.26%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

BEDZ ATM IV is at 60.20% with IV rank near 39.68%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

BEDZ Cash-Secured Put Strategy

BEDZ (AdvisorShares Hotel ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

International travel has experienced a remarkable surge, expanding by a factor of 57 since the emergence of modern tourism in the 1950s, based on data tracking global arrivals. Significant opportunities exist globally, with leading American hotel and accommodation providers extending their reach internationally to tap into diverse income sources. Furthermore, the worldwide travel and tourism sector contributes over 9.1% to the global economy. The Exchange Traded Fund (ETF) framework provides several advantages, such as optimized tax treatment, clear operational visibility, the flexibility of trading throughout the day, enhanced risk mitigation, and the convenience of utilizing limit orders. Following the COVID-19 pandemic, there is substantial pent-up demand, with a striking 88% of American consumers expressing eagerness to resume travel for both professional and personal purposes.

BEDZ (AdvisorShares Hotel ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $2.9M, a beta of 1.11 versus the broader market, a 52-week range of 30.453-38.31, average daily share volume of 2K, a public-listing history dating back to 2021. These structural characteristics shape how BEDZ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.11 places BEDZ roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. BEDZ 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 BEDZ?

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.

BEDZ snapshot

As of August 14, 2026, spot at $36.73, ATM IV 60.20%, IV rank 39.68%, expected move 17.26%. The cash-secured put on BEDZ 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 BEDZ specifically: BEDZ IV at 60.20% is mid-range versus its 1-year history, so the credit collected on a BEDZ cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 17.26% (roughly $6.34 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 BEDZ expiries trade a higher absolute premium for lower per-day decay. Position sizing on BEDZ should anchor to the underlying notional of $36.73 per share and to the trader's directional view on BEDZ etf.

BEDZ cash-secured put setup

The BEDZ 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 BEDZ at $36.73 on that close, the first option leg uses a $35.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BEDZ 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 BEDZ shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$35.00	$1.84

BEDZ cash-secured put risk and reward

Net Premium / Debit: +$184.00
Max Profit (per contract): $184.00
Max Loss (per contract): -$3,315.00
Breakeven(s): $33.16
Risk / Reward Ratio: 0.056

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

BEDZ cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on BEDZ. 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%	-$3,315.00
$8.13	-77.9%	-$2,502.99
$16.25	-55.8%	-$1,690.98
$24.37	-33.7%	-$878.97
$32.49	-11.5%	-$66.96
$40.61	+10.6%	+$184.00
$48.73	+32.7%	+$184.00
$56.85	+54.8%	+$184.00
$64.97	+76.9%	+$184.00
$73.09	+99.0%	+$184.00

When traders use cash-secured put on BEDZ

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

BEDZ thesis for this cash-secured put

The market-implied 1-standard-deviation range for BEDZ extends from approximately $30.39 on the downside to $43.07 on the upside. A BEDZ cash-secured put lets a trader earn premium while waiting to acquire BEDZ 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 BEDZ IV rank near 39.68% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on BEDZ should anchor more to the directional view and the expected-move geometry. As a Financial Services name, BEDZ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BEDZ-specific events.

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

Frequently asked questions

What is a cash-secured put on BEDZ?: A cash-secured put on BEDZ is the cash-secured put strategy applied to BEDZ (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 BEDZ etf at $36.73 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed BEDZ chain strike and the premiums come straight from that session's bid/ask midpoint.
How are BEDZ 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 BEDZ cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.20%), the computed maximum profit is $184.00 per contract and the computed maximum loss is -$3,315.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a BEDZ cash-secured put?: The breakeven for the BEDZ cash-secured put priced on this page is roughly $33.16 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 BEDZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.26%; 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 BEDZ?: Cash-secured puts on BEDZ earn premium while a trader waits to acquire BEDZ etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning BEDZ.
How does current BEDZ implied volatility affect this cash-secured put?: BEDZ ATM IV is at 60.20% with IV rank near 39.68%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.