CHPX Cash-Secured Put Strategy
CHPX (Global X - AI Semiconductor & Quantum ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.
The Global X AI Semiconductor & Quantum ETF, identified by the ticker CHPX, is structured to mirror the financial performance—both capital gains and income—of the Global X AI Semiconductor & Quantum Index. Its primary goal is to replicate these results before any management fees or operational expenses are subtracted.
CHPX (Global X - AI Semiconductor & Quantum ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $33.4M, a beta of 3.32 versus the broader market, a 52-week range of 49-112, average daily share volume of 101K, a public-listing history dating back to 2025. These structural characteristics shape how CHPX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.32 indicates CHPX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. CHPX 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 CHPX?
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 CHPX snapshot
As of June 29, 2026, spot at $101.03, ATM IV 58.90%, expected move 16.89%. The cash-secured put on CHPX 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 18-day expiry.
Why this cash-secured put structure on CHPX specifically: IV rank is unavailable in the current snapshot, so regime-based timing for CHPX is inferred from ATM IV at 58.90% alone, with a market-implied 1-standard-deviation move of approximately 16.89% (roughly $17.06 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CHPX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CHPX should anchor to the underlying notional of $101.03 per share and to the trader's directional view on CHPX etf.
CHPX cash-secured put setup
The CHPX 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 CHPX near $101.03, the first option leg uses a $95.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CHPX chain at a 18-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 CHPX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $95.00 | $2.15 |
CHPX cash-secured put risk and reward
- Net Premium / Debit
- +$215.00
- Max Profit (per contract)
- $215.00
- Max Loss (per contract)
- -$9,284.00
- Breakeven(s)
- $92.85
- Risk / Reward Ratio
- 0.023
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
CHPX cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on CHPX. 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% | -$9,284.00 |
| $22.35 | -77.9% | -$7,050.28 |
| $44.68 | -55.8% | -$4,816.56 |
| $67.02 | -33.7% | -$2,582.84 |
| $89.36 | -11.6% | -$349.13 |
| $111.70 | +10.6% | +$215.00 |
| $134.03 | +32.7% | +$215.00 |
| $156.37 | +54.8% | +$215.00 |
| $178.71 | +76.9% | +$215.00 |
| $201.04 | +99.0% | +$215.00 |
When traders use cash-secured put on CHPX
Cash-secured puts on CHPX earn premium while a trader waits to acquire CHPX etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CHPX.
CHPX thesis for this cash-secured put
The market-implied 1-standard-deviation range for CHPX extends from approximately $83.97 on the downside to $118.09 on the upside. A CHPX cash-secured put lets a trader earn premium while waiting to acquire CHPX 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. As a Financial Services name, CHPX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CHPX-specific events.
CHPX 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. CHPX positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CHPX alongside the broader basket even when CHPX-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on CHPX carry tail risk when realized volatility exceeds the implied move; review historical CHPX earnings reactions and macro stress periods before sizing. Always rebuild the position from current CHPX chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on CHPX?
- A cash-secured put on CHPX is the cash-secured put strategy applied to CHPX (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 CHPX etf trading near $101.03, the strikes shown on this page are snapped to the nearest listed CHPX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CHPX 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 CHPX cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 58.90%), the computed maximum profit is $215.00 per contract and the computed maximum loss is -$9,284.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CHPX cash-secured put?
- The breakeven for the CHPX cash-secured put priced on this page is roughly $92.85 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 CHPX market-implied 1-standard-deviation expected move is approximately 16.89%; 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 CHPX?
- Cash-secured puts on CHPX earn premium while a trader waits to acquire CHPX etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning CHPX.
- How does current CHPX implied volatility affect this cash-secured put?
- Current CHPX ATM IV is 58.90%; IV rank context is unavailable in the current snapshot.