How are TSLW 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 TSLW cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.70%), the computed maximum profit is $122.50 per contract and the computed maximum loss is -$1,576.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the TSLW cash-secured put priced on this page is roughly $15.78 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 TSLW market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.38%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

TSLW ATM IV is at 39.70% with IV rank near 6.56%, 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.

TSLW Cash-Secured Put Strategy

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

The Roundhill TSLA WeeklyPay ETF, identified by the ticker TSLW, is designed for investors aiming to achieve both regular income payouts and potential for capital growth. This actively managed fund seeks to provide weekly distributions and generate weekly returns, before accounting for fees and expenses, that are 1.2 times (120%) the total calendar-week performance of Tesla common shares (Nasdaq: TSLA).

TSLW (Roundhill Investments - TSLA WeeklyPay ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $68.9M, a beta of 1.59 versus the broader market, a 52-week range of 15.02-43.59, average daily share volume of 123K, a public-listing history dating back to 2025. These structural characteristics shape how TSLW etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.59 indicates TSLW has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. TSLW 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 TSLW?

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.

TSLW snapshot

As of August 14, 2026, spot at $17.48, ATM IV 39.70%, IV rank 6.56%, expected move 11.38%. The cash-secured put on TSLW 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 TSLW specifically: TSLW IV at 39.70% is on the cheap side of its 1-year range, which means a premium-selling TSLW cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 11.38% (roughly $1.99 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 TSLW expiries trade a higher absolute premium for lower per-day decay. Position sizing on TSLW should anchor to the underlying notional of $17.48 per share and to the trader's directional view on TSLW etf.

TSLW cash-secured put setup

The TSLW 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 TSLW at $17.48 on that close, the first option leg uses a $17.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TSLW 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 TSLW shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$17.00	$1.23

TSLW cash-secured put risk and reward

Net Premium / Debit: +$122.50
Max Profit (per contract): $122.50
Max Loss (per contract): -$1,576.50
Breakeven(s): $15.78
Risk / Reward Ratio: 0.078

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

TSLW cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on TSLW. 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%	-$1,576.50
$3.87	-77.8%	-$1,190.12
$7.74	-55.7%	-$803.74
$11.60	-33.6%	-$417.35
$15.47	-11.5%	-$30.97
$19.33	+10.6%	+$122.50
$23.19	+32.7%	+$122.50
$27.06	+54.8%	+$122.50
$30.92	+76.9%	+$122.50
$34.78	+99.0%	+$122.50

When traders use cash-secured put on TSLW

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

TSLW thesis for this cash-secured put

The market-implied 1-standard-deviation range for TSLW extends from approximately $15.49 on the downside to $19.47 on the upside. A TSLW cash-secured put lets a trader earn premium while waiting to acquire TSLW 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 TSLW IV rank near 6.56% 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 TSLW at 39.70%. As a Financial Services name, TSLW options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TSLW-specific events.

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

Frequently asked questions

What is a cash-secured put on TSLW?: A cash-secured put on TSLW is the cash-secured put strategy applied to TSLW (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 TSLW etf at $17.48 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed TSLW chain strike and the premiums come straight from that session's bid/ask midpoint.
How are TSLW 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 TSLW cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.70%), the computed maximum profit is $122.50 per contract and the computed maximum loss is -$1,576.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a TSLW cash-secured put?: The breakeven for the TSLW cash-secured put priced on this page is roughly $15.78 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 TSLW market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.38%; 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 TSLW?: Cash-secured puts on TSLW earn premium while a trader waits to acquire TSLW etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning TSLW.
How does current TSLW implied volatility affect this cash-secured put?: TSLW ATM IV is at 39.70% with IV rank near 6.56%, 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.