How are GXPS 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 GXPS cash-secured put priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 34.70%), the computed maximum profit is $31.00 per contract and the computed maximum loss is -$2,468.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the GXPS cash-secured put priced on this page is roughly $24.69 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 GXPS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.95%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

Current GXPS ATM IV is 34.70%; IV rank context is unavailable in the current snapshot.

GXPS Cash-Secured Put Strategy

GXPS (Global X Funds - Global X PureCap MSCI Consumer Staples ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

GXPS offers concentrated exposure to the US Consumer Staples industry. The underlying index selects companies from the MSCI USA Index that are involved in the Consumer Staples sector, as defined by GICS. These firms provide goods and services that consumers consider essential. The sector includes: i) manufacturers and distributors of food, beverages, and tobacco, ii) producers of non-durable household goods and personal products, and iii) distributors and retailers of consumer staple products, such as food and drug retailing companies. The fund may also invest in ETFs that track the performance of Consumer Staples companies or firms with a similar investment profile as the index constituents. Selected securities are weighted based purely on market capitalization, without maximum weight constraints.

GXPS (Global X Funds - Global X PureCap MSCI Consumer Staples ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $69.7M, a beta of 0.21 versus the broader market, a 52-week range of 23.28-29.63, average daily share volume of 27K, a public-listing history dating back to 2025. These structural characteristics shape how GXPS etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.21 indicates GXPS has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. GXPS 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 GXPS?

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.

GXPS snapshot

As of September 29, 2026, spot at $26.13, ATM IV 34.70%, expected move 9.95%. The cash-secured put on GXPS 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 GXPS specifically: IV rank is unavailable in the current snapshot, so regime-based timing for GXPS is inferred from ATM IV at 34.70% alone, with a market-implied 1-standard-deviation move of approximately 9.95% (roughly $2.60 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 GXPS expiries trade a higher absolute premium for lower per-day decay. Position sizing on GXPS should anchor to the underlying notional of $26.13 per share and to the trader's directional view on GXPS etf.

GXPS cash-secured put setup

The GXPS 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 GXPS at $26.13 on that close, the first option leg uses a $25.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GXPS 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 GXPS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$25.00	$0.31

GXPS cash-secured put risk and reward

Net Premium / Debit: +$31.00
Max Profit (per contract): $31.00
Max Loss (per contract): -$2,468.00
Breakeven(s): $24.69
Risk / Reward Ratio: 0.013

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

GXPS cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on GXPS. 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%	-$2,468.00
$5.79	-77.9%	-$1,890.36
$11.56	-55.7%	-$1,312.72
$17.34	-33.6%	-$735.09
$23.12	-11.5%	-$157.45
$28.89	+10.6%	+$31.00
$34.67	+32.7%	+$31.00
$40.44	+54.8%	+$31.00
$46.22	+76.9%	+$31.00
$52.00	+99.0%	+$31.00

When traders use cash-secured put on GXPS

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

GXPS thesis for this cash-secured put

The market-implied 1-standard-deviation range for GXPS extends from approximately $23.53 on the downside to $28.73 on the upside. A GXPS cash-secured put lets a trader earn premium while waiting to acquire GXPS 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. As a Financial Services name, GXPS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GXPS-specific events.

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

Frequently asked questions

What is a cash-secured put on GXPS?: A cash-secured put on GXPS is the cash-secured put strategy applied to GXPS (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 GXPS etf at $26.13 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed GXPS chain strike and the premiums come straight from that session's bid/ask midpoint.
How are GXPS 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 GXPS cash-secured put priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 34.70%), the computed maximum profit is $31.00 per contract and the computed maximum loss is -$2,468.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GXPS cash-secured put?: The breakeven for the GXPS cash-secured put priced on this page is roughly $24.69 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 GXPS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.95%; 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 GXPS?: Cash-secured puts on GXPS earn premium while a trader waits to acquire GXPS etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning GXPS.
How does current GXPS implied volatility affect this cash-secured put?: Current GXPS ATM IV is 34.70%; IV rank context is unavailable in the current snapshot.