BOTZ Cash-Secured Put Strategy
BOTZ (Global X - Robotics & Artificial Intelligence ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.
The Global X Robotics & Artificial Intelligence ETF (BOTZ) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Global Robotics & Artificial Intelligence Thematic Index.
BOTZ (Global X - Robotics & Artificial Intelligence ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $3.84B, a beta of 1.71 versus the broader market, a 52-week range of 30.12-41.71, average daily share volume of 949K, a public-listing history dating back to 2016. These structural characteristics shape how BOTZ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.71 indicates BOTZ has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. BOTZ 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 BOTZ?
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 BOTZ snapshot
As of May 15, 2026, spot at $40.30, ATM IV 28.30%, IV rank 51.33%, expected move 8.11%. The cash-secured put on BOTZ 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 BOTZ specifically: BOTZ IV at 28.30% is mid-range versus its 1-year history, so the credit collected on a BOTZ cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 8.11% (roughly $3.27 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 BOTZ expiries trade a higher absolute premium for lower per-day decay. Position sizing on BOTZ should anchor to the underlying notional of $40.30 per share and to the trader's directional view on BOTZ etf.
BOTZ cash-secured put setup
The BOTZ 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 BOTZ near $40.30, the first option leg uses a $38.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BOTZ 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 BOTZ shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $38.00 | $0.60 |
BOTZ cash-secured put risk and reward
- Net Premium / Debit
- +$60.00
- Max Profit (per contract)
- $60.00
- Max Loss (per contract)
- -$3,739.00
- Breakeven(s)
- $37.40
- Risk / Reward Ratio
- 0.016
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
BOTZ cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on BOTZ. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$3,739.00 |
| $8.92 | -77.9% | -$2,848.06 |
| $17.83 | -55.8% | -$1,957.11 |
| $26.74 | -33.7% | -$1,066.17 |
| $35.65 | -11.5% | -$175.22 |
| $44.56 | +10.6% | +$60.00 |
| $53.47 | +32.7% | +$60.00 |
| $62.38 | +54.8% | +$60.00 |
| $71.29 | +76.9% | +$60.00 |
| $80.20 | +99.0% | +$60.00 |
When traders use cash-secured put on BOTZ
Cash-secured puts on BOTZ earn premium while a trader waits to acquire BOTZ etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning BOTZ.
BOTZ thesis for this cash-secured put
The market-implied 1-standard-deviation range for BOTZ extends from approximately $37.03 on the downside to $43.57 on the upside. A BOTZ cash-secured put lets a trader earn premium while waiting to acquire BOTZ 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 BOTZ IV rank near 51.33% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on BOTZ should anchor more to the directional view and the expected-move geometry. As a Financial Services name, BOTZ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BOTZ-specific events.
BOTZ 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. BOTZ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BOTZ alongside the broader basket even when BOTZ-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on BOTZ carry tail risk when realized volatility exceeds the implied move; review historical BOTZ earnings reactions and macro stress periods before sizing. Always rebuild the position from current BOTZ chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on BOTZ?
- A cash-secured put on BOTZ is the cash-secured put strategy applied to BOTZ (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 BOTZ etf trading near $40.30, the strikes shown on this page are snapped to the nearest listed BOTZ chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are BOTZ 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 BOTZ cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 28.30%), the computed maximum profit is $60.00 per contract and the computed maximum loss is -$3,739.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a BOTZ cash-secured put?
- The breakeven for the BOTZ cash-secured put priced on this page is roughly $37.40 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 BOTZ market-implied 1-standard-deviation expected move is approximately 8.11%; 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 BOTZ?
- Cash-secured puts on BOTZ earn premium while a trader waits to acquire BOTZ etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning BOTZ.
- How does current BOTZ implied volatility affect this cash-secured put?
- BOTZ ATM IV is at 28.30% with IV rank near 51.33%, 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.