How are NVDL 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 NVDL cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 73.29%), the computed maximum profit is $174.00 per contract and the computed maximum loss is -$2,492.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the NVDL cash-secured put priced on this page is roughly $24.93 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 NVDL market-implied 1-standard-deviation expected move is approximately 21.01%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

NVDL ATM IV is at 73.29% with IV rank near 28.16%, 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.

NVDL Cash-Secured Put Strategy

NVDL (GraniteShares 2x Long NVDA Daily ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This Fund aims to deliver daily returns that, before factoring in fees and expenses, are two times (200%) the daily percentage fluctuation of NVIDIA Corp's (NASDAQ: NVDA) common stock. There is no certainty, however, that the Fund will always meet this specific goal. Furthermore, investors should not expect the Fund to provide double the total accumulated return of NVDA for any timeframe extending beyond a single day.

NVDL (GraniteShares 2x Long NVDA Daily ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $2.61B, a beta of 3.67 versus the broader market, a 52-week range of 21.53667-43.27334, average daily share volume of 24.4M, a public-listing history dating back to 2022. These structural characteristics shape how NVDL etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 3.67 indicates NVDL has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. NVDL 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 NVDL?

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 NVDL snapshot

As of June 29, 2026, spot at $28.41, ATM IV 73.29%, IV rank 28.16%, expected move 21.01%. The cash-secured put on NVDL 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 32-day expiry.

Why this cash-secured put structure on NVDL specifically: NVDL IV at 73.29% is on the cheap side of its 1-year range, which means a premium-selling NVDL cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 21.01% (roughly $5.97 on the underlying). The 32-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NVDL expiries trade a higher absolute premium for lower per-day decay. Position sizing on NVDL should anchor to the underlying notional of $28.41 per share and to the trader's directional view on NVDL etf.

NVDL cash-secured put setup

The NVDL 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 NVDL near $28.41, the first option leg uses a $26.67 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NVDL chain at a 32-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 NVDL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$26.67	$1.74

NVDL cash-secured put risk and reward

Net Premium / Debit: +$174.00
Max Profit (per contract): $174.00
Max Loss (per contract): -$2,492.00
Breakeven(s): $24.93
Risk / Reward Ratio: 0.070

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

NVDL cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on NVDL. 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%	-$2,492.00
$6.29	-77.9%	-$1,863.95
$12.57	-55.8%	-$1,235.90
$18.85	-33.6%	-$607.85
$25.13	-11.5%	+$20.20
$31.41	+10.6%	+$174.00
$37.69	+32.7%	+$174.00
$43.97	+54.8%	+$174.00
$50.25	+76.9%	+$174.00
$56.53	+99.0%	+$174.00

When traders use cash-secured put on NVDL

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

NVDL thesis for this cash-secured put

The market-implied 1-standard-deviation range for NVDL extends from approximately $22.44 on the downside to $34.38 on the upside. A NVDL cash-secured put lets a trader earn premium while waiting to acquire NVDL 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 NVDL IV rank near 28.16% 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 NVDL at 73.29%. As a Financial Services name, NVDL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NVDL-specific events.

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

Frequently asked questions

What is a cash-secured put on NVDL?: A cash-secured put on NVDL is the cash-secured put strategy applied to NVDL (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 NVDL etf trading near $28.41, the strikes shown on this page are snapped to the nearest listed NVDL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are NVDL 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 NVDL cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 73.29%), the computed maximum profit is $174.00 per contract and the computed maximum loss is -$2,492.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a NVDL cash-secured put?: The breakeven for the NVDL cash-secured put priced on this page is roughly $24.93 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 NVDL market-implied 1-standard-deviation expected move is approximately 21.01%; 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 NVDL?: Cash-secured puts on NVDL earn premium while a trader waits to acquire NVDL etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NVDL.
How does current NVDL implied volatility affect this cash-secured put?: NVDL ATM IV is at 73.29% with IV rank near 28.16%, 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.