How are METW 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 METW cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 49.60%), the computed maximum profit is $98.00 per contract and the computed maximum loss is -$2,201.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the METW cash-secured put priced on this page is roughly $22.02 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 METW market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.22%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

METW ATM IV is at 49.60% with IV rank near 13.29%, 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.

METW Cash-Secured Put Strategy

METW (Roundhill Investments - META WeeklyPay ETF), in the Financial Services sector, (Asset Management - Income industry), listed on CBOE.

The Roundhill META WeeklyPay ETF (METW) is tailored for investors aiming to achieve a dual objective of generating regular income and fostering portfolio growth. This ETF's core purpose is to deliver weekly payouts and provide calendar week returns that correspond to 120% (or 1.2 times) the total return performance of Meta Platforms (Nasdaq: META) common shares over the same period, prior to the deduction of any fees and expenses. Furthermore, METW operates as an actively managed exchange-traded fund.

METW (Roundhill Investments - META WeeklyPay ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $24.8M, a beta of 1.42 versus the broader market, a 52-week range of 21.56-54.53, average daily share volume of 18K, a public-listing history dating back to 2025. These structural characteristics shape how METW etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.42 indicates METW has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. METW 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 METW?

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.

METW snapshot

As of August 14, 2026, spot at $24.42, ATM IV 49.60%, IV rank 13.29%, expected move 14.22%. The cash-secured put on METW 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 METW specifically: METW IV at 49.60% is on the cheap side of its 1-year range, which means a premium-selling METW cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 14.22% (roughly $3.47 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 METW expiries trade a higher absolute premium for lower per-day decay. Position sizing on METW should anchor to the underlying notional of $24.42 per share and to the trader's directional view on METW etf.

METW cash-secured put setup

The METW 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 METW at $24.42 on that close, the first option leg uses a $23.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed METW 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 METW shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$23.00	$0.98

METW cash-secured put risk and reward

Net Premium / Debit: +$98.00
Max Profit (per contract): $98.00
Max Loss (per contract): -$2,201.00
Breakeven(s): $22.02
Risk / Reward Ratio: 0.045

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

METW cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on METW. 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%	-$2,201.00
$5.41	-77.9%	-$1,661.17
$10.81	-55.7%	-$1,121.34
$16.20	-33.6%	-$581.51
$21.60	-11.5%	-$41.68
$27.00	+10.6%	+$98.00
$32.40	+32.7%	+$98.00
$37.80	+54.8%	+$98.00
$43.20	+76.9%	+$98.00
$48.59	+99.0%	+$98.00

When traders use cash-secured put on METW

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

METW thesis for this cash-secured put

The market-implied 1-standard-deviation range for METW extends from approximately $20.95 on the downside to $27.89 on the upside. A METW cash-secured put lets a trader earn premium while waiting to acquire METW 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 METW IV rank near 13.29% 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 METW at 49.60%. As a Financial Services name, METW options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to METW-specific events.

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

Frequently asked questions

What is a cash-secured put on METW?: A cash-secured put on METW is the cash-secured put strategy applied to METW (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 METW etf at $24.42 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed METW chain strike and the premiums come straight from that session's bid/ask midpoint.
How are METW 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 METW cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 49.60%), the computed maximum profit is $98.00 per contract and the computed maximum loss is -$2,201.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a METW cash-secured put?: The breakeven for the METW cash-secured put priced on this page is roughly $22.02 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 METW market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.22%; 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 METW?: Cash-secured puts on METW earn premium while a trader waits to acquire METW etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning METW.
How does current METW implied volatility affect this cash-secured put?: METW ATM IV is at 49.60% with IV rank near 13.29%, 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.