DIG Cash-Secured Put Strategy
DIG (ProShares - Ultra Energy), in the Financial Services sector, (Asset Management industry), listed on AMEX.
ProShares Ultra Energy seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P Energy Select SectorSM Index.
DIG (ProShares - Ultra Energy) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $86.0M, a beta of 0.17 versus the broader market, a 52-week range of 30.21-71.52, average daily share volume of 88K, a public-listing history dating back to 2007. These structural characteristics shape how DIG etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.17 indicates DIG has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. DIG 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 DIG?
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 DIG snapshot
As of May 15, 2026, spot at $61.48, ATM IV 53.30%, IV rank 58.70%, expected move 15.28%. The cash-secured put on DIG 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 DIG specifically: DIG IV at 53.30% is mid-range versus its 1-year history, so the credit collected on a DIG cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 15.28% (roughly $9.39 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 DIG expiries trade a higher absolute premium for lower per-day decay. Position sizing on DIG should anchor to the underlying notional of $61.48 per share and to the trader's directional view on DIG etf.
DIG cash-secured put setup
The DIG 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 DIG near $61.48, the first option leg uses a $60.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DIG 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 DIG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $60.00 | $3.40 |
DIG cash-secured put risk and reward
- Net Premium / Debit
- +$340.00
- Max Profit (per contract)
- $340.00
- Max Loss (per contract)
- -$5,659.00
- Breakeven(s)
- $56.60
- Risk / Reward Ratio
- 0.060
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
DIG cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on DIG. 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% | -$5,659.00 |
| $13.60 | -77.9% | -$4,299.75 |
| $27.19 | -55.8% | -$2,940.51 |
| $40.79 | -33.7% | -$1,581.26 |
| $54.38 | -11.5% | -$222.02 |
| $67.97 | +10.6% | +$340.00 |
| $81.56 | +32.7% | +$340.00 |
| $95.16 | +54.8% | +$340.00 |
| $108.75 | +76.9% | +$340.00 |
| $122.34 | +99.0% | +$340.00 |
When traders use cash-secured put on DIG
Cash-secured puts on DIG earn premium while a trader waits to acquire DIG etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DIG.
DIG thesis for this cash-secured put
The market-implied 1-standard-deviation range for DIG extends from approximately $52.09 on the downside to $70.87 on the upside. A DIG cash-secured put lets a trader earn premium while waiting to acquire DIG 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 DIG IV rank near 58.70% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on DIG should anchor more to the directional view and the expected-move geometry. As a Financial Services name, DIG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DIG-specific events.
DIG 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. DIG positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DIG alongside the broader basket even when DIG-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on DIG carry tail risk when realized volatility exceeds the implied move; review historical DIG earnings reactions and macro stress periods before sizing. Always rebuild the position from current DIG chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on DIG?
- A cash-secured put on DIG is the cash-secured put strategy applied to DIG (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 DIG etf trading near $61.48, the strikes shown on this page are snapped to the nearest listed DIG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DIG 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 DIG cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 53.30%), the computed maximum profit is $340.00 per contract and the computed maximum loss is -$5,659.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a DIG cash-secured put?
- The breakeven for the DIG cash-secured put priced on this page is roughly $56.60 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 DIG market-implied 1-standard-deviation expected move is approximately 15.28%; 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 DIG?
- Cash-secured puts on DIG earn premium while a trader waits to acquire DIG etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DIG.
- How does current DIG implied volatility affect this cash-secured put?
- DIG ATM IV is at 53.30% with IV rank near 58.70%, 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.