How are NFLW 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 NFLW cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 57.40%), the computed maximum profit is $62.00 per contract and the computed maximum loss is -$1,537.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the NFLW cash-secured put priced on this page is roughly $15.38 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 NFLW market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.46%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

NFLW ATM IV is at 57.40% with IV rank near 14.57%, 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.

NFLW Cash-Secured Put Strategy

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

The Roundhill NFLX WeeklyPay ETF, designated as NFLW, offers investors a strategic solution for combining regular income with the prospects of capital growth. This actively managed fund aims to generate weekly distributions and deliver a gross calendar week return equivalent to 120% (1.2 times) the total return of Netflix (Nasdaq: NFLX) common shares, before accounting for any fees and expenses.

NFLW (Roundhill Investments - NFLX WeeklyPay ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $7.3M, a beta of -0.25 versus the broader market, a 52-week range of 14.67-55.24, average daily share volume of 17K, a public-listing history dating back to 2025. These structural characteristics shape how NFLW etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of -0.25 indicates NFLW has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. NFLW 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 NFLW?

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.

NFLW snapshot

As of August 14, 2026, spot at $17.29, ATM IV 57.40%, IV rank 14.57%, expected move 16.46%. The cash-secured put on NFLW 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 NFLW specifically: NFLW IV at 57.40% is on the cheap side of its 1-year range, which means a premium-selling NFLW cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 16.46% (roughly $2.85 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 NFLW expiries trade a higher absolute premium for lower per-day decay. Position sizing on NFLW should anchor to the underlying notional of $17.29 per share and to the trader's directional view on NFLW etf.

NFLW cash-secured put setup

The NFLW 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 NFLW at $17.29 on that close, the first option leg uses a $16.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NFLW 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 NFLW shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$16.00	$0.62

NFLW cash-secured put risk and reward

Net Premium / Debit: +$62.00
Max Profit (per contract): $62.00
Max Loss (per contract): -$1,537.00
Breakeven(s): $15.38
Risk / Reward Ratio: 0.040

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

NFLW cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on NFLW. 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	-99.9%	-$1,537.00
$3.83	-77.8%	-$1,154.82
$7.65	-55.7%	-$772.64
$11.48	-33.6%	-$390.46
$15.30	-11.5%	-$8.28
$19.12	+10.6%	+$62.00
$22.94	+32.7%	+$62.00
$26.76	+54.8%	+$62.00
$30.58	+76.9%	+$62.00
$34.41	+99.0%	+$62.00

When traders use cash-secured put on NFLW

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

NFLW thesis for this cash-secured put

The market-implied 1-standard-deviation range for NFLW extends from approximately $14.44 on the downside to $20.14 on the upside. A NFLW cash-secured put lets a trader earn premium while waiting to acquire NFLW 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 NFLW IV rank near 14.57% 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 NFLW at 57.40%. As a Financial Services name, NFLW options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NFLW-specific events.

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

Frequently asked questions

What is a cash-secured put on NFLW?: A cash-secured put on NFLW is the cash-secured put strategy applied to NFLW (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 NFLW etf at $17.29 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed NFLW chain strike and the premiums come straight from that session's bid/ask midpoint.
How are NFLW 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 NFLW cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 57.40%), the computed maximum profit is $62.00 per contract and the computed maximum loss is -$1,537.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a NFLW cash-secured put?: The breakeven for the NFLW cash-secured put priced on this page is roughly $15.38 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 NFLW market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.46%; 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 NFLW?: Cash-secured puts on NFLW earn premium while a trader waits to acquire NFLW etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NFLW.
How does current NFLW implied volatility affect this cash-secured put?: NFLW ATM IV is at 57.40% with IV rank near 14.57%, 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.