FSOL Cash-Secured Put Strategy
FSOL (Fidelity Solana Fund), in the Financial Services sector, (Asset Management industry), listed on AMEX.
FSOL is passively managed to track the price performance of Solana (SOL), as measured by the Fidelity Solana Reference Rate, adjusted for expenses and staking rewards. The Trust holds SOL and stakes it via institutional custodians to earn staking rewards, with these rewards expected to allow the Trust to outperform the reference rate before expenses. The reference rate uses SOL price feeds and volume-weighted median pricing, updating every 15 seconds. Investors have exposure to SOL without direct digital asset handling. SOL is the asset powering the decentralized Solana blockchain, used for transactions and smart contracts. The Solana network is often praised for its speed and low costs, some question the reliability as the platform has a history of outages and is too centralized.
FSOL (Fidelity Solana Fund) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $228.6M, a beta of 0.97 versus the broader market, a 52-week range of 7.26-17.48, average daily share volume of 325K, a public-listing history dating back to 2025. These structural characteristics shape how FSOL etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.97 places FSOL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. FSOL 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 FSOL?
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.
FSOL snapshot
As of September 29, 2026, spot at $13.98, ATM IV 60.10%, IV rank 11.90%, expected move 17.23%. The cash-secured put on FSOL below is built from the September 29, 2026 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 FSOL specifically: FSOL IV at 60.10% is on the cheap side of its 1-year range, which means a premium-selling FSOL cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 17.23% (roughly $2.41 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 FSOL expiries trade a higher absolute premium for lower per-day decay. Position sizing on FSOL should anchor to the underlying notional of $13.98 per share and to the trader's directional view on FSOL etf.
FSOL cash-secured put setup
The FSOL cash-secured put below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With FSOL at $13.98 on that close, the first option leg uses a $13.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FSOL 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 FSOL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Put | $13.00 | $0.28 |
FSOL cash-secured put risk and reward
- Net Premium / Debit
- +$27.50
- Max Profit (per contract)
- $27.50
- Max Loss (per contract)
- -$1,271.50
- Breakeven(s)
- $12.73
- Risk / Reward Ratio
- 0.022
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.
FSOL cash-secured put payoff curve
Modeled P&L at expiration across a range of underlying prices for the cash-secured put on FSOL. 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 | -99.9% | -$1,271.50 |
| $3.10 | -77.8% | -$962.51 |
| $6.19 | -55.7% | -$653.51 |
| $9.28 | -33.6% | -$344.52 |
| $12.37 | -11.5% | -$35.52 |
| $15.46 | +10.6% | +$27.50 |
| $18.55 | +32.7% | +$27.50 |
| $21.64 | +54.8% | +$27.50 |
| $24.73 | +76.9% | +$27.50 |
| $27.82 | +99.0% | +$27.50 |
When traders use cash-secured put on FSOL
Cash-secured puts on FSOL earn premium while a trader waits to acquire FSOL etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FSOL.
FSOL thesis for this cash-secured put
The market-implied 1-standard-deviation range for FSOL extends from approximately $11.57 on the downside to $16.39 on the upside. A FSOL cash-secured put lets a trader earn premium while waiting to acquire FSOL 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 FSOL IV rank near 11.90% 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 FSOL at 60.10%. As a Financial Services name, FSOL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FSOL-specific events.
FSOL 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. FSOL positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FSOL alongside the broader basket even when FSOL-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on FSOL carry tail risk when realized volatility exceeds the implied move; review historical FSOL earnings reactions and macro stress periods before sizing. Always rebuild the position from current FSOL chain quotes before placing a trade.
Frequently asked questions
- What is a cash-secured put on FSOL?
- A cash-secured put on FSOL is the cash-secured put strategy applied to FSOL (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 FSOL etf at $13.98 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed FSOL chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are FSOL 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 FSOL cash-secured put priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.10%), the computed maximum profit is $27.50 per contract and the computed maximum loss is -$1,271.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a FSOL cash-secured put?
- The breakeven for the FSOL cash-secured put priced on this page is roughly $12.73 at expiration, derived from the September 29, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The FSOL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.23%; 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 FSOL?
- Cash-secured puts on FSOL earn premium while a trader waits to acquire FSOL etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FSOL.
- How does current FSOL implied volatility affect this cash-secured put?
- FSOL ATM IV is at 60.10% with IV rank near 11.90%, 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.