How are TDV 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 TDV cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 11.80%), the computed maximum profit is $101.00 per contract and the computed maximum loss is -$9,698.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the TDV cash-secured put priced on this page is roughly $96.99 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 TDV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 3.38%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

TDV ATM IV is at 11.80% with IV rank near 6.23%, 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.

TDV Cash-Secured Put Strategy

TDV (ProShares - S&P Technology Dividend Aristocrats ETF), in the Financial Services sector, (Asset Management - Income industry), listed on CBOE.

This ProShares fund is designed to mirror an underlying index, which is meticulously developed and overseen by S&P Dow Jones Indices LLC. The index primarily comprises companies from the U.S. technology sector, with a focused selection of technology-oriented businesses also drawn from the communication services and consumer discretionary sectors. Typically, the fund commits a minimum of 80% of its total capital to the securities that make up this index. Investors should be aware that it operates as a non-diversified fund.

TDV (ProShares - S&P Technology Dividend Aristocrats ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $297.7M, a beta of 1.12 versus the broader market, a 52-week range of 81.52-106.7, average daily share volume of 6K, a public-listing history dating back to 2019. These structural characteristics shape how TDV etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.12 places TDV roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. TDV 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 TDV?

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.

TDV snapshot

As of August 14, 2026, spot at $103.39, ATM IV 11.80%, IV rank 6.23%, expected move 3.38%. The cash-secured put on TDV 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 TDV specifically: TDV IV at 11.80% is on the cheap side of its 1-year range, which means a premium-selling TDV cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 3.38% (roughly $3.50 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 TDV expiries trade a higher absolute premium for lower per-day decay. Position sizing on TDV should anchor to the underlying notional of $103.39 per share and to the trader's directional view on TDV etf.

TDV cash-secured put setup

The TDV 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 TDV at $103.39 on that close, the first option leg uses a $98.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TDV 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 TDV shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$98.00	$1.01

TDV cash-secured put risk and reward

Net Premium / Debit: +$101.00
Max Profit (per contract): $101.00
Max Loss (per contract): -$9,698.00
Breakeven(s): $96.99
Risk / Reward Ratio: 0.010

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

TDV cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on TDV. 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%	-$9,698.00
$22.87	-77.9%	-$7,412.10
$45.73	-55.8%	-$5,126.20
$68.59	-33.7%	-$2,840.30
$91.45	-11.6%	-$554.40
$114.30	+10.6%	+$101.00
$137.16	+32.7%	+$101.00
$160.02	+54.8%	+$101.00
$182.88	+76.9%	+$101.00
$205.74	+99.0%	+$101.00

When traders use cash-secured put on TDV

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

TDV thesis for this cash-secured put

The market-implied 1-standard-deviation range for TDV extends from approximately $99.89 on the downside to $106.89 on the upside. A TDV cash-secured put lets a trader earn premium while waiting to acquire TDV 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 TDV IV rank near 6.23% 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 TDV at 11.80%. As a Financial Services name, TDV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TDV-specific events.

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

Frequently asked questions

What is a cash-secured put on TDV?: A cash-secured put on TDV is the cash-secured put strategy applied to TDV (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 TDV etf at $103.39 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed TDV chain strike and the premiums come straight from that session's bid/ask midpoint.
How are TDV 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 TDV cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 11.80%), the computed maximum profit is $101.00 per contract and the computed maximum loss is -$9,698.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a TDV cash-secured put?: The breakeven for the TDV cash-secured put priced on this page is roughly $96.99 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 TDV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 3.38%; 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 TDV?: Cash-secured puts on TDV earn premium while a trader waits to acquire TDV etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning TDV.
How does current TDV implied volatility affect this cash-secured put?: TDV ATM IV is at 11.80% with IV rank near 6.23%, 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.