How are RGTZ 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 RGTZ cash-secured put priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 139.60%), the computed maximum profit is $700.00 per contract and the computed maximum loss is -$799.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the RGTZ cash-secured put priced on this page is roughly $8.00 at expiration, derived from the September 29, 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 RGTZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 40.02%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

RGTZ ATM IV is at 139.60% with IV rank near 27.88%, 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.

RGTZ Cash-Secured Put Strategy

RGTZ (Defiance Daily Target 2X Short RGTI ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This ETF is designed to produce daily returns that are the exact opposite of, and twice the magnitude (or -200%) of, the day-to-day percentage change in the stock price of Rigetti Computing, Inc. (traded on Nasdaq under the ticker RGTI), before taking into account its operating costs. It's important to understand that this fund's investment objective is solely targeted at performance over a single trading day, and it is not intended to achieve these results for periods longer than that.

RGTZ (Defiance Daily Target 2X Short RGTI ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $15.9M, a beta of -7.55 versus the broader market, a 52-week range of 11.2-187.4, average daily share volume of 10.7M, a public-listing history dating back to 2025. These structural characteristics shape how RGTZ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of -7.55 indicates RGTZ has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a cash-secured put on RGTZ?

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.

RGTZ snapshot

As of September 29, 2026, spot at $15.29, ATM IV 139.60%, IV rank 27.88%, expected move 40.02%. The cash-secured put on RGTZ below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 234-day expiry.

Why this cash-secured put structure on RGTZ specifically: RGTZ IV at 139.60% is on the cheap side of its 1-year range, which means a premium-selling RGTZ cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 40.02% (roughly $6.12 on the underlying). The 234-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated RGTZ expiries trade a higher absolute premium for lower per-day decay. Position sizing on RGTZ should anchor to the underlying notional of $15.29 per share and to the trader's directional view on RGTZ etf.

RGTZ cash-secured put setup

The RGTZ cash-secured put below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With RGTZ at $15.29 on that close, the first option leg uses a $15.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RGTZ chain at a 234-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 RGTZ shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$15.00	$7.00

RGTZ cash-secured put risk and reward

Net Premium / Debit: +$700.00
Max Profit (per contract): $700.00
Max Loss (per contract): -$799.00
Breakeven(s): $8.00
Risk / Reward Ratio: 0.876

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

RGTZ cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on RGTZ. 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%	-$799.00
$3.39	-77.8%	-$461.04
$6.77	-55.7%	-$123.08
$10.15	-33.6%	+$214.88
$13.53	-11.5%	+$552.84
$16.91	+10.6%	+$700.00
$20.29	+32.7%	+$700.00
$23.67	+54.8%	+$700.00
$27.05	+76.9%	+$700.00
$30.43	+99.0%	+$700.00

When traders use cash-secured put on RGTZ

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

RGTZ thesis for this cash-secured put

The market-implied 1-standard-deviation range for RGTZ extends from approximately $9.17 on the downside to $21.41 on the upside. A RGTZ cash-secured put lets a trader earn premium while waiting to acquire RGTZ 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 RGTZ IV rank near 27.88% 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 RGTZ at 139.60%. As a Financial Services name, RGTZ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RGTZ-specific events.

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

Frequently asked questions

What is a cash-secured put on RGTZ?: A cash-secured put on RGTZ is the cash-secured put strategy applied to RGTZ (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 RGTZ etf at $15.29 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed RGTZ chain strike and the premiums come straight from that session's bid/ask midpoint.
How are RGTZ 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 RGTZ cash-secured put priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 139.60%), the computed maximum profit is $700.00 per contract and the computed maximum loss is -$799.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a RGTZ cash-secured put?: The breakeven for the RGTZ cash-secured put priced on this page is roughly $8.00 at expiration, derived from the September 29, 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 RGTZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 40.02%; 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 RGTZ?: Cash-secured puts on RGTZ earn premium while a trader waits to acquire RGTZ etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning RGTZ.
How does current RGTZ implied volatility affect this cash-secured put?: RGTZ ATM IV is at 139.60% with IV rank near 27.88%, 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.