MTYY Cash-Secured Put Strategy

MTYY (GraniteShares YieldBOOST MSTR ETF), in the Financial Services sector, (Asset Management - Income industry), listed on NASDAQ.

The Fund’s primary investment objective is to seek current income. The Fund’s secondary investment objective is to seek exposure to the performance of one or more exchange-traded funds whose shares trade on a U.S.-regulated securities exchange and that seek daily leverage investment results of 2 times (200%) the daily percentage of the common stock of MicroStrategy Inc. (NASDAQ MSTR) (the Underlying Stock) subject to a limit on potential investment gains.

MTYY (GraniteShares YieldBOOST MSTR ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $278,142, a beta of 0.78 versus the broader market, a 52-week range of 4.49-25.17, average daily share volume of 18K, a public-listing history dating back to 2025. These structural characteristics shape how MTYY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.78 places MTYY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. MTYY 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 MTYY?

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 MTYY snapshot

As of May 15, 2026, spot at $4.56, ATM IV 214.90%, IV rank 36.38%, expected move 61.61%. The cash-secured put on MTYY 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 34-day expiry.

Why this cash-secured put structure on MTYY specifically: MTYY IV at 214.90% is mid-range versus its 1-year history, so the credit collected on a MTYY cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 61.61% (roughly $2.81 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MTYY expiries trade a higher absolute premium for lower per-day decay. Position sizing on MTYY should anchor to the underlying notional of $4.56 per share and to the trader's directional view on MTYY etf.

MTYY cash-secured put setup

The MTYY 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 MTYY near $4.56, the first option leg uses a $4.33 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MTYY chain at a 34-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 MTYY shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$4.33N/A

MTYY cash-secured put risk and reward

Net Premium / Debit
N/A
Max Profit (per contract)
Unbounded
Max Loss (per contract)
Unbounded
Breakeven(s)
None on modeled curve
Risk / Reward Ratio
N/A

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

MTYY cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on MTYY. 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.

When traders use cash-secured put on MTYY

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

MTYY thesis for this cash-secured put

The market-implied 1-standard-deviation range for MTYY extends from approximately $1.75 on the downside to $7.37 on the upside. A MTYY cash-secured put lets a trader earn premium while waiting to acquire MTYY 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 MTYY IV rank near 36.38% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on MTYY should anchor more to the directional view and the expected-move geometry. As a Financial Services name, MTYY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MTYY-specific events.

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

Frequently asked questions

What is a cash-secured put on MTYY?
A cash-secured put on MTYY is the cash-secured put strategy applied to MTYY (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 MTYY etf trading near $4.56, the strikes shown on this page are snapped to the nearest listed MTYY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are MTYY 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 MTYY cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 214.90%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a MTYY cash-secured put?
The breakeven for the MTYY cash-secured put priced on this page is no defined breakeven on the modeled curve 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 MTYY market-implied 1-standard-deviation expected move is approximately 61.61%; 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 MTYY?
Cash-secured puts on MTYY earn premium while a trader waits to acquire MTYY etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning MTYY.
How does current MTYY implied volatility affect this cash-secured put?
MTYY ATM IV is at 214.90% with IV rank near 36.38%, 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.

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