How are NVYY 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 NVYY cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 59.50%), the computed maximum profit is $80.00 per contract and the computed maximum loss is -$1,119.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the NVYY cash-secured put priced on this page is roughly $11.20 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 NVYY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.06%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

NVYY ATM IV is at 59.50% with IV rank near 29.10%, 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.

NVYY Cash-Secured Put Strategy

NVYY (GraniteShares YieldBOOST NVDA ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This fund primarily aims to generate an income stream equivalent to twice (200%) that derived from selling options directly on NVIDIA Corp. (NVDA). It achieves this by writing options on specialized leveraged exchange-traded funds (ETFs) that are designed to deliver two times (200%) the daily performance of NVIDIA stock. Additionally, a secondary goal of the fund is to capture the performance of these underlying leveraged ETFs, although this comes with a predefined ceiling on any potential investment profits. Measures for downside protection might be employed, which could subsequently influence the overall net income achieved.

NVYY (GraniteShares YieldBOOST NVDA ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $35.1M, a beta of 0.77 versus the broader market, a 52-week range of 12.05-27.32, average daily share volume of 79K, a public-listing history dating back to 2025. These structural characteristics shape how NVYY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.77 places NVYY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. NVYY 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 NVYY?

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.

NVYY snapshot

As of August 14, 2026, spot at $12.21, ATM IV 59.50%, IV rank 29.10%, expected move 17.06%. The cash-secured put on NVYY 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 NVYY specifically: NVYY IV at 59.50% is on the cheap side of its 1-year range, which means a premium-selling NVYY cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 17.06% (roughly $2.08 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 NVYY expiries trade a higher absolute premium for lower per-day decay. Position sizing on NVYY should anchor to the underlying notional of $12.21 per share and to the trader's directional view on NVYY etf.

NVYY cash-secured put setup

The NVYY 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 NVYY at $12.21 on that close, the first option leg uses a $12.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NVYY 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 NVYY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$12.00	$0.80

NVYY cash-secured put risk and reward

Net Premium / Debit: +$80.00
Max Profit (per contract): $80.00
Max Loss (per contract): -$1,119.00
Breakeven(s): $11.20
Risk / Reward Ratio: 0.071

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

NVYY cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on NVYY. 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%	-$1,119.00
$2.71	-77.8%	-$849.14
$5.41	-55.7%	-$579.28
$8.11	-33.6%	-$309.42
$10.80	-11.5%	-$39.56
$13.50	+10.6%	+$80.00
$16.20	+32.7%	+$80.00
$18.90	+54.8%	+$80.00
$21.60	+76.9%	+$80.00
$24.30	+99.0%	+$80.00

When traders use cash-secured put on NVYY

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

NVYY thesis for this cash-secured put

The market-implied 1-standard-deviation range for NVYY extends from approximately $10.13 on the downside to $14.29 on the upside. A NVYY cash-secured put lets a trader earn premium while waiting to acquire NVYY 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 NVYY IV rank near 29.10% 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 NVYY at 59.50%. As a Financial Services name, NVYY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NVYY-specific events.

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

Frequently asked questions

What is a cash-secured put on NVYY?: A cash-secured put on NVYY is the cash-secured put strategy applied to NVYY (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 NVYY etf at $12.21 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed NVYY chain strike and the premiums come straight from that session's bid/ask midpoint.
How are NVYY 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 NVYY cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 59.50%), the computed maximum profit is $80.00 per contract and the computed maximum loss is -$1,119.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a NVYY cash-secured put?: The breakeven for the NVYY cash-secured put priced on this page is roughly $11.20 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 NVYY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.06%; 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 NVYY?: Cash-secured puts on NVYY earn premium while a trader waits to acquire NVYY etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning NVYY.
How does current NVYY implied volatility affect this cash-secured put?: NVYY ATM IV is at 59.50% with IV rank near 29.10%, 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.