How are FLYT 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 FLYT cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 211.50%), the computed maximum profit is $160.00 per contract and the computed maximum loss is -$839.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FLYT cash-secured put?

The breakeven for the FLYT cash-secured put priced on this page is roughly $8.40 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 FLYT market-implied 1-standard-deviation expected move is approximately 60.64%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FLYT implied volatility affect this cash-secured put?

FLYT ATM IV is at 211.50% with IV rank near 61.52%, 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.

FLYT Cash-Secured Put Strategy

FLYT (Direxion Flight to Safety Strategy ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

The Direxion Flight to Safety Strategy ETF (FLYT) typically allocates a minimum of 80% of its assets to the components of its benchmark index. This underlying index is designed to track a volatility-weighted collection of specific "safe haven" investments: gold, shares of large-capitalization U.S. utility companies, and U.S. Treasury bonds with maturities greater than two decades. Investors should note that this fund operates as a non-diversified investment vehicle.

FLYT (Direxion Flight to Safety Strategy ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $15.0M, a beta of 0.00 versus the broader market, a 52-week range of 45.96-51.38, average daily share volume of 1K, a public-listing history dating back to 2020. These structural characteristics shape how FLYT etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.00 indicates FLYT has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a cash-secured put on FLYT?

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 FLYT snapshot

As of June 30, 2026, spot at $10.77, ATM IV 211.50%, IV rank 61.52%, expected move 60.64%. The cash-secured put on FLYT 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 17-day expiry.

Why this cash-secured put structure on FLYT specifically: FLYT IV at 211.50% is mid-range versus its 1-year history, so the credit collected on a FLYT cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 60.64% (roughly $6.53 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FLYT expiries trade a higher absolute premium for lower per-day decay. Position sizing on FLYT should anchor to the underlying notional of $10.77 per share and to the trader's directional view on FLYT etf.

FLYT cash-secured put setup

The FLYT 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 FLYT near $10.77, the first option leg uses a $10.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FLYT chain at a 17-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 FLYT shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$10.00	$1.60

FLYT cash-secured put risk and reward

Net Premium / Debit: +$160.00
Max Profit (per contract): $160.00
Max Loss (per contract): -$839.00
Breakeven(s): $8.40
Risk / Reward Ratio: 0.191

Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.

FLYT cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on FLYT. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	-$839.00
$2.39	-77.8%	-$600.98
$4.77	-55.7%	-$362.96
$7.15	-33.6%	-$124.94
$9.53	-11.5%	+$113.08
$11.91	+10.6%	+$160.00
$14.29	+32.7%	+$160.00
$16.67	+54.8%	+$160.00
$19.05	+76.9%	+$160.00
$21.43	+99.0%	+$160.00

When traders use cash-secured put on FLYT

Cash-secured puts on FLYT earn premium while a trader waits to acquire FLYT etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FLYT.

FLYT thesis for this cash-secured put

The market-implied 1-standard-deviation range for FLYT extends from approximately $4.24 on the downside to $17.30 on the upside. A FLYT cash-secured put lets a trader earn premium while waiting to acquire FLYT 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 FLYT IV rank near 61.52% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on FLYT should anchor more to the directional view and the expected-move geometry. As a Financial Services name, FLYT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FLYT-specific events.

FLYT 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. FLYT positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FLYT alongside the broader basket even when FLYT-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on FLYT carry tail risk when realized volatility exceeds the implied move; review historical FLYT earnings reactions and macro stress periods before sizing. Always rebuild the position from current FLYT chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on FLYT?: A cash-secured put on FLYT is the cash-secured put strategy applied to FLYT (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 FLYT etf trading near $10.77, the strikes shown on this page are snapped to the nearest listed FLYT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FLYT 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 FLYT cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 211.50%), the computed maximum profit is $160.00 per contract and the computed maximum loss is -$839.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FLYT cash-secured put?: The breakeven for the FLYT cash-secured put priced on this page is roughly $8.40 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 FLYT market-implied 1-standard-deviation expected move is approximately 60.64%; 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 FLYT?: Cash-secured puts on FLYT earn premium while a trader waits to acquire FLYT etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FLYT.
How does current FLYT implied volatility affect this cash-secured put?: FLYT ATM IV is at 211.50% with IV rank near 61.52%, 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.