How are GOEX 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 GOEX cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 52.60%), the computed maximum profit is $327.50 per contract and the computed maximum loss is -$7,771.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the GOEX cash-secured put priced on this page is roughly $77.73 at expiration, derived from the August 14, 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 GOEX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.08%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

GOEX ATM IV is at 52.60% with IV rank near 4.92%, 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.

GOEX Cash-Secured Put Strategy

GOEX (Global X - Gold Explorers ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

The Global X Gold Explorers ETF, identified by its ticker GOEX, is designed to emulate the overall financial performance of the Solactive Global Gold Explorers & Developers Total Return Index. Its objective is to broadly track the index's capital appreciation and income generation, prior to the deduction of any associated management fees and operational costs.

GOEX (Global X - Gold Explorers ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $131.4M, a beta of 1.10 versus the broader market, a 52-week range of 47.08-110.19, average daily share volume of 8K, a public-listing history dating back to 2010. These structural characteristics shape how GOEX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.10 places GOEX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. GOEX 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 GOEX?

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.

GOEX snapshot

As of August 14, 2026, spot at $85.75, ATM IV 52.60%, IV rank 4.92%, expected move 15.08%. The cash-secured put on GOEX below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this cash-secured put structure on GOEX specifically: GOEX IV at 52.60% is on the cheap side of its 1-year range, which means a premium-selling GOEX cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 15.08% (roughly $12.93 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated GOEX expiries trade a higher absolute premium for lower per-day decay. Position sizing on GOEX should anchor to the underlying notional of $85.75 per share and to the trader's directional view on GOEX etf.

GOEX cash-secured put setup

The GOEX cash-secured put below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With GOEX at $85.75 on that close, the first option leg uses a $81.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GOEX chain at a 35-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 GOEX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$81.00	$3.28

GOEX cash-secured put risk and reward

Net Premium / Debit: +$327.50
Max Profit (per contract): $327.50
Max Loss (per contract): -$7,771.50
Breakeven(s): $77.73
Risk / Reward Ratio: 0.042

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

GOEX cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on GOEX. 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%	-$7,771.50
$18.97	-77.9%	-$5,875.63
$37.93	-55.8%	-$3,979.76
$56.89	-33.7%	-$2,083.89
$75.84	-11.6%	-$188.02
$94.80	+10.6%	+$327.50
$113.76	+32.7%	+$327.50
$132.72	+54.8%	+$327.50
$151.68	+76.9%	+$327.50
$170.64	+99.0%	+$327.50

When traders use cash-secured put on GOEX

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

GOEX thesis for this cash-secured put

The market-implied 1-standard-deviation range for GOEX extends from approximately $72.82 on the downside to $98.68 on the upside. A GOEX cash-secured put lets a trader earn premium while waiting to acquire GOEX 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 GOEX IV rank near 4.92% 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 GOEX at 52.60%. As a Financial Services name, GOEX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GOEX-specific events.

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

Frequently asked questions

What is a cash-secured put on GOEX?: A cash-secured put on GOEX is the cash-secured put strategy applied to GOEX (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 GOEX etf at $85.75 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed GOEX chain strike and the premiums come straight from that session's bid/ask midpoint.
How are GOEX 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 GOEX cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 52.60%), the computed maximum profit is $327.50 per contract and the computed maximum loss is -$7,771.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GOEX cash-secured put?: The breakeven for the GOEX cash-secured put priced on this page is roughly $77.73 at expiration, derived from the August 14, 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 GOEX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.08%; 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 GOEX?: Cash-secured puts on GOEX earn premium while a trader waits to acquire GOEX etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning GOEX.
How does current GOEX implied volatility affect this cash-secured put?: GOEX ATM IV is at 52.60% with IV rank near 4.92%, 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.