DUHP Cash-Secured Put Strategy
DUHP (Dimensional - US High Profitability ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The portfolio is designed to purchase a broad and diverse group of readily marketable securities of large U.S. companies that the Advisor determines to have high profitability relative to other U.S. large cap companies at the time of purchase. As a non-fundamental policy, under normal circumstances, the portfolio will invest at least 80% of its net assets in securities of U.S. companies.
DUHP (Dimensional - US High Profitability ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $11.40B, a beta of 0.92 versus the broader market, a 52-week range of 33.451-39.99, average daily share volume of 1.4M, a public-listing history dating back to 2022. These structural characteristics shape how DUHP etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.92 places DUHP roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. DUHP 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 DUHP?
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 DUHP snapshot
As of May 15, 2026, spot at $39.94, ATM IV 9.80%, IV rank 0.46%, expected move 2.81%. The cash-secured put on DUHP 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 DUHP specifically: DUHP IV at 9.80% is on the cheap side of its 1-year range, which means a premium-selling DUHP cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 2.81% (roughly $1.12 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 DUHP expiries trade a higher absolute premium for lower per-day decay. Position sizing on DUHP should anchor to the underlying notional of $39.94 per share and to the trader's directional view on DUHP etf.
DUHP cash-secured put setup
The DUHP 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 DUHP near $39.94, 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 DUHP 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 DUHP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $38.00 | $0.16 |
DUHP cash-secured put risk and reward
- Net Premium / Debit
- +$16.00
- Max Profit (per contract)
- $16.00
- Max Loss (per contract)
- -$3,783.00
- Breakeven(s)
- $37.89
- Risk / Reward Ratio
- 0.004
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
DUHP cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on DUHP. 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% | -$3,783.00 |
| $8.84 | -77.9% | -$2,900.02 |
| $17.67 | -55.8% | -$2,017.03 |
| $26.50 | -33.7% | -$1,134.05 |
| $35.33 | -11.5% | -$251.06 |
| $44.16 | +10.6% | +$16.00 |
| $52.99 | +32.7% | +$16.00 |
| $61.82 | +54.8% | +$16.00 |
| $70.65 | +76.9% | +$16.00 |
| $79.48 | +99.0% | +$16.00 |
When traders use cash-secured put on DUHP
Cash-secured puts on DUHP earn premium while a trader waits to acquire DUHP etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DUHP.
DUHP thesis for this cash-secured put
The market-implied 1-standard-deviation range for DUHP extends from approximately $38.82 on the downside to $41.06 on the upside. A DUHP cash-secured put lets a trader earn premium while waiting to acquire DUHP 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 DUHP IV rank near 0.46% 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 DUHP at 9.80%. As a Financial Services name, DUHP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DUHP-specific events.
DUHP 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. DUHP positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DUHP alongside the broader basket even when DUHP-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on DUHP carry tail risk when realized volatility exceeds the implied move; review historical DUHP earnings reactions and macro stress periods before sizing. Always rebuild the position from current DUHP chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on DUHP?
- A cash-secured put on DUHP is the cash-secured put strategy applied to DUHP (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 DUHP etf trading near $39.94, the strikes shown on this page are snapped to the nearest listed DUHP chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DUHP 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 DUHP cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 9.80%), the computed maximum profit is $16.00 per contract and the computed maximum loss is -$3,783.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a DUHP cash-secured put?
- The breakeven for the DUHP cash-secured put priced on this page is roughly $37.89 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 DUHP market-implied 1-standard-deviation expected move is approximately 2.81%; 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 DUHP?
- Cash-secured puts on DUHP earn premium while a trader waits to acquire DUHP etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DUHP.
- How does current DUHP implied volatility affect this cash-secured put?
- DUHP ATM IV is at 9.80% with IV rank near 0.46%, 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.