How are WMTI 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 WMTI cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 10.00%), the computed maximum profit is $110.00 per contract and the computed maximum loss is -$1,889.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the WMTI cash-secured put priced on this page is roughly $18.90 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 WMTI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 2.87%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

WMTI ATM IV is at 10.00% with IV rank near 0.41%, 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.

WMTI Cash-Secured Put Strategy

WMTI (REX WMT Growth & Income ETF), in the Financial Services sector, (Asset Management - Income industry), listed on CBOE.

Under typical market circumstances, this exchange-traded fund (ETF) allocates a minimum of 80% of its total capital (inclusive of borrowed funds) to investments directly in WMT stock, instruments providing exposure to WMT, or securities designed to yield income from WMT-related positions. Its principal strategy for achieving this notional WMT exposure involves utilizing various options contracts on WMT, encompassing both conventional exchange-traded options and customizable Flexible EXchange® (FLEX) Options. Investors should be aware that this fund is classified as non-diversified.

WMTI (REX WMT Growth & Income ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $10.1M, a beta of 0.28 versus the broader market, a 52-week range of 20.13-30.34, average daily share volume of 35K, a public-listing history dating back to 2025. These structural characteristics shape how WMTI etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.28 indicates WMTI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. WMTI 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 WMTI?

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.

WMTI snapshot

As of August 14, 2026, spot at $21.55, ATM IV 10.00%, IV rank 0.41%, expected move 2.87%. The cash-secured put on WMTI 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 126-day expiry.

Why this cash-secured put structure on WMTI specifically: WMTI IV at 10.00% is on the cheap side of its 1-year range, which means a premium-selling WMTI cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 2.87% (roughly $0.62 on the underlying). The 126-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated WMTI expiries trade a higher absolute premium for lower per-day decay. Position sizing on WMTI should anchor to the underlying notional of $21.55 per share and to the trader's directional view on WMTI etf.

WMTI cash-secured put setup

The WMTI 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 WMTI at $21.55 on that close, the first option leg uses a $20.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed WMTI chain at a 126-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 WMTI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$20.00	$1.10

WMTI cash-secured put risk and reward

Net Premium / Debit: +$110.00
Max Profit (per contract): $110.00
Max Loss (per contract): -$1,889.00
Breakeven(s): $18.90
Risk / Reward Ratio: 0.058

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

WMTI cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on WMTI. 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%	-$1,889.00
$4.77	-77.8%	-$1,412.63
$9.54	-55.7%	-$936.26
$14.30	-33.6%	-$459.88
$19.06	-11.5%	+$16.49
$23.83	+10.6%	+$110.00
$28.59	+32.7%	+$110.00
$33.36	+54.8%	+$110.00
$38.12	+76.9%	+$110.00
$42.88	+99.0%	+$110.00

When traders use cash-secured put on WMTI

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

WMTI thesis for this cash-secured put

The market-implied 1-standard-deviation range for WMTI extends from approximately $20.93 on the downside to $22.17 on the upside. A WMTI cash-secured put lets a trader earn premium while waiting to acquire WMTI 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 WMTI IV rank near 0.41% 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 WMTI at 10.00%. As a Financial Services name, WMTI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to WMTI-specific events.

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

Frequently asked questions

What is a cash-secured put on WMTI?: A cash-secured put on WMTI is the cash-secured put strategy applied to WMTI (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 WMTI etf at $21.55 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed WMTI chain strike and the premiums come straight from that session's bid/ask midpoint.
How are WMTI 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 WMTI cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 10.00%), the computed maximum profit is $110.00 per contract and the computed maximum loss is -$1,889.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a WMTI cash-secured put?: The breakeven for the WMTI cash-secured put priced on this page is roughly $18.90 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 WMTI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 2.87%; 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 WMTI?: Cash-secured puts on WMTI earn premium while a trader waits to acquire WMTI etf at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning WMTI.
How does current WMTI implied volatility affect this cash-secured put?: WMTI ATM IV is at 10.00% with IV rank near 0.41%, 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.