How are GPT 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 GPT cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 372.50%), the computed maximum profit is $30.00 per contract and the computed maximum loss is -$3,269.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the GPT cash-secured put priced on this page is roughly $32.70 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 GPT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 4.85%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

GPT ATM IV is at 372.50% with IV rank near 78.68%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

GPT Cash-Secured Put Strategy

GPT (Intelligent Alpha Atlas ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.

The fund uses Intelligent Alpha, LLC’s proprietary artificial intelligence-powered stock selection strategy to create an intelligent equal weight portfolio of global large cap stocks with over $1 billion in market capitalization. The securities selected will be based on the major trading trends inspired by the greatest traders in the world. The fund is non-diversified.

GPT (Intelligent Alpha Atlas ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $24.6M, a trailing P/E of 132.64, a beta of 0.81 versus the broader market, a 52-week range of 27.64-34.785, average daily share volume of 2K, a public-listing history dating back to 2024, approximately 488 full-time employees. These structural characteristics shape how GPT etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.81 places GPT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 132.64 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. GPT 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 GPT?

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.

GPT snapshot

As of August 14, 2026, spot at $34.66, ATM IV 372.50%, IV rank 78.68%, expected move 4.85%. The cash-secured put on GPT 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 GPT specifically: GPT IV at 372.50% is rich versus its 1-year range, which favors premium-selling structures like a GPT cash-secured put, with a market-implied 1-standard-deviation move of approximately 4.85% (roughly $1.68 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 GPT expiries trade a higher absolute premium for lower per-day decay. Position sizing on GPT should anchor to the underlying notional of $34.66 per share and to the trader's directional view on GPT etf.

GPT cash-secured put setup

The GPT 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 GPT at $34.66 on that close, the first option leg uses a $33.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GPT 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 GPT shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$33.00	$0.30

GPT cash-secured put risk and reward

Net Premium / Debit: +$30.00
Max Profit (per contract): $30.00
Max Loss (per contract): -$3,269.00
Breakeven(s): $32.70
Risk / Reward Ratio: 0.009

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

GPT cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on GPT. 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%	-$3,269.00
$7.67	-77.9%	-$2,502.76
$15.33	-55.8%	-$1,736.52
$23.00	-33.6%	-$970.28
$30.66	-11.5%	-$204.04
$38.32	+10.6%	+$30.00
$45.98	+32.7%	+$30.00
$53.65	+54.8%	+$30.00
$61.31	+76.9%	+$30.00
$68.97	+99.0%	+$30.00

When traders use cash-secured put on GPT

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

GPT thesis for this cash-secured put

The market-implied 1-standard-deviation range for GPT extends from approximately $32.98 on the downside to $36.34 on the upside. A GPT cash-secured put lets a trader earn premium while waiting to acquire GPT 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 GPT IV rank near 78.68% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on GPT at 372.50%. As a Financial Services name, GPT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GPT-specific events.

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

Frequently asked questions

What is a cash-secured put on GPT?: A cash-secured put on GPT is the cash-secured put strategy applied to GPT (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 GPT etf at $34.66 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed GPT chain strike and the premiums come straight from that session's bid/ask midpoint.
How are GPT 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 GPT cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 372.50%), the computed maximum profit is $30.00 per contract and the computed maximum loss is -$3,269.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GPT cash-secured put?: The breakeven for the GPT cash-secured put priced on this page is roughly $32.70 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 GPT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 4.85%; 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 GPT?: Cash-secured puts on GPT earn premium while a trader waits to acquire GPT etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning GPT.
How does current GPT implied volatility affect this cash-secured put?: GPT ATM IV is at 372.50% with IV rank near 78.68%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.