FBOT Cash-Secured Put Strategy
FBOT (Fidelity Disruptive Automation ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
Invests in companies leading the way in automation, from industrial robotics to artificial intelligence and autonomous driving.
FBOT (Fidelity Disruptive Automation ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $197.3M, a beta of 1.36 versus the broader market, a 52-week range of 28.32-40.14, average daily share volume of 20K, a public-listing history dating back to 2023. These structural characteristics shape how FBOT etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.36 indicates FBOT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. FBOT 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 FBOT?
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 FBOT snapshot
As of May 15, 2026, spot at $38.84, ATM IV 26.40%, IV rank 13.67%, expected move 7.57%. The cash-secured put on FBOT 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 FBOT specifically: FBOT IV at 26.40% is on the cheap side of its 1-year range, which means a premium-selling FBOT cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 7.57% (roughly $2.94 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 FBOT expiries trade a higher absolute premium for lower per-day decay. Position sizing on FBOT should anchor to the underlying notional of $38.84 per share and to the trader's directional view on FBOT etf.
FBOT cash-secured put setup
The FBOT 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 FBOT near $38.84, the first option leg uses a $36.90 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FBOT 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 FBOT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $36.90 | N/A |
FBOT cash-secured put risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
FBOT cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on FBOT. 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.
When traders use cash-secured put on FBOT
Cash-secured puts on FBOT earn premium while a trader waits to acquire FBOT etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FBOT.
FBOT thesis for this cash-secured put
The market-implied 1-standard-deviation range for FBOT extends from approximately $35.90 on the downside to $41.78 on the upside. A FBOT cash-secured put lets a trader earn premium while waiting to acquire FBOT 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 FBOT IV rank near 13.67% 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 FBOT at 26.40%. As a Financial Services name, FBOT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FBOT-specific events.
FBOT 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. FBOT positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FBOT alongside the broader basket even when FBOT-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on FBOT carry tail risk when realized volatility exceeds the implied move; review historical FBOT earnings reactions and macro stress periods before sizing. Always rebuild the position from current FBOT chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on FBOT?
- A cash-secured put on FBOT is the cash-secured put strategy applied to FBOT (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 FBOT etf trading near $38.84, the strikes shown on this page are snapped to the nearest listed FBOT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FBOT 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 FBOT cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 26.40%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a FBOT cash-secured put?
- The breakeven for the FBOT cash-secured put priced on this page is no defined breakeven on the modeled curve 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 FBOT market-implied 1-standard-deviation expected move is approximately 7.57%; 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 FBOT?
- Cash-secured puts on FBOT earn premium while a trader waits to acquire FBOT etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FBOT.
- How does current FBOT implied volatility affect this cash-secured put?
- FBOT ATM IV is at 26.40% with IV rank near 13.67%, 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.