How are FTAG 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 FTAG cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 273.60%), the computed maximum profit is $4.00 per contract and the computed maximum loss is -$2,695.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the FTAG cash-secured put priced on this page is roughly $26.96 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 FTAG market-implied 1-standard-deviation expected move is approximately 78.44%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

FTAG ATM IV is at 273.60% with IV rank near 53.68%, 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.

FTAG Cash-Secured Put Strategy

FTAG (First Trust Indxx Global Agriculture ETF), in the Financial Services sector, (Asset Management - Global industry), listed on NASDAQ.

The First Trust Indxx Global Agriculture ETF operates as an exchange-traded fund with the main purpose of tracking the performance of a specific equity benchmark. This fund aims to mirror the capital appreciation and income generation of the Indxx Global Agriculture Index, before accounting for its own operational costs and fees.

FTAG (First Trust Indxx Global Agriculture ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $6.3M, a beta of 0.58 versus the broader market, a 52-week range of 24.98-31.13, average daily share volume of 7K, a public-listing history dating back to 2010. These structural characteristics shape how FTAG etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.58 indicates FTAG has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. FTAG 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 FTAG?

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 FTAG snapshot

As of June 30, 2026, spot at $28.87, ATM IV 273.60%, IV rank 53.68%, expected move 78.44%. The cash-secured put on FTAG 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 FTAG specifically: FTAG IV at 273.60% is mid-range versus its 1-year history, so the credit collected on a FTAG cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 78.44% (roughly $22.65 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 FTAG expiries trade a higher absolute premium for lower per-day decay. Position sizing on FTAG should anchor to the underlying notional of $28.87 per share and to the trader's directional view on FTAG etf.

FTAG cash-secured put setup

The FTAG 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 FTAG near $28.87, the first option leg uses a $27.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FTAG 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 FTAG shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$27.00	$0.04

FTAG cash-secured put risk and reward

Net Premium / Debit: +$4.00
Max Profit (per contract): $4.00
Max Loss (per contract): -$2,695.00
Breakeven(s): $26.96
Risk / Reward Ratio: 0.001

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

FTAG cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on FTAG. 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	-100.0%	-$2,695.00
$6.39	-77.9%	-$2,056.78
$12.77	-55.8%	-$1,418.56
$19.16	-33.6%	-$780.34
$25.54	-11.5%	-$142.12
$31.92	+10.6%	+$4.00
$38.30	+32.7%	+$4.00
$44.69	+54.8%	+$4.00
$51.07	+76.9%	+$4.00
$57.45	+99.0%	+$4.00

When traders use cash-secured put on FTAG

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

FTAG thesis for this cash-secured put

The market-implied 1-standard-deviation range for FTAG extends from approximately $6.22 on the downside to $51.52 on the upside. A FTAG cash-secured put lets a trader earn premium while waiting to acquire FTAG 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 FTAG IV rank near 53.68% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on FTAG should anchor more to the directional view and the expected-move geometry. As a Financial Services name, FTAG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FTAG-specific events.

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

Frequently asked questions

What is a cash-secured put on FTAG?: A cash-secured put on FTAG is the cash-secured put strategy applied to FTAG (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 FTAG etf trading near $28.87, the strikes shown on this page are snapped to the nearest listed FTAG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are FTAG 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 FTAG cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 273.60%), the computed maximum profit is $4.00 per contract and the computed maximum loss is -$2,695.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FTAG cash-secured put?: The breakeven for the FTAG cash-secured put priced on this page is roughly $26.96 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 FTAG market-implied 1-standard-deviation expected move is approximately 78.44%; 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 FTAG?: Cash-secured puts on FTAG earn premium while a trader waits to acquire FTAG etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning FTAG.
How does current FTAG implied volatility affect this cash-secured put?: FTAG ATM IV is at 273.60% with IV rank near 53.68%, 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.