How are ASPI 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 ASPI cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 103.65%), the computed maximum profit is $17.50 per contract and the computed maximum loss is -$381.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the ASPI cash-secured put priced on this page is roughly $3.83 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 ASPI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 29.72%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

ASPI ATM IV is at 103.65% with IV rank near 16.75%, 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.

ASPI Cash-Secured Put Strategy

ASPI (ASP Isotopes Inc. Common Stock), in the Basic Materials sector, (Chemicals industry), listed on NASDAQ.

ASP Isotopes Inc. is an emerging advanced materials company, currently in its pre-commercial stage. This firm is dedicated to the comprehensive management of isotopes, encompassing their creation, dissemination, promotion, and eventual sale. The company's developmental portfolio includes Molybdenum-100, a non-radioactive isotope designed for medical applications, alongside Carbon-14 and Silicon-28. Furthermore, ASP Isotopes is involved with Uranium-235, a specific uranium isotope considered crucial for the carbon-free energy sector. Established in 2021, the company maintains its headquarters in Boca Raton, Florida.

ASPI (ASP Isotopes Inc. Common Stock) trades in the Basic Materials sector, specifically Chemicals, with a market capitalization of approximately $541.4M, a beta of 3.62 versus the broader market, a 52-week range of 3.51-14.49, average daily share volume of 4.7M, a public-listing history dating back to 2022, approximately 271 full-time employees. These structural characteristics shape how ASPI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 3.62 indicates ASPI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.

What is a cash-secured put on ASPI?

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.

ASPI snapshot

As of August 14, 2026, spot at $4.25, ATM IV 103.65%, IV rank 16.75%, expected move 29.72%. The cash-secured put on ASPI 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 14-day expiry.

Why this cash-secured put structure on ASPI specifically: ASPI IV at 103.65% is on the cheap side of its 1-year range, which means a premium-selling ASPI cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 29.72% (roughly $1.26 on the underlying). The 14-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ASPI expiries trade a higher absolute premium for lower per-day decay. Position sizing on ASPI should anchor to the underlying notional of $4.25 per share and to the trader's directional view on ASPI stock.

ASPI cash-secured put setup

The ASPI 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 ASPI at $4.25 on that close, the first option leg uses a $4.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ASPI chain at a 14-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 ASPI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$4.00	$0.18

ASPI cash-secured put risk and reward

Net Premium / Debit: +$17.50
Max Profit (per contract): $17.50
Max Loss (per contract): -$381.50
Breakeven(s): $3.83
Risk / Reward Ratio: 0.046

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

ASPI cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on ASPI. 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	-99.8%	-$381.50
$0.95	-77.7%	-$287.64
$1.89	-55.6%	-$193.78
$2.83	-33.5%	-$99.92
$3.76	-11.4%	-$6.06
$4.70	+10.7%	+$17.50
$5.64	+32.7%	+$17.50
$6.58	+54.8%	+$17.50
$7.52	+76.9%	+$17.50
$8.46	+99.0%	+$17.50

When traders use cash-secured put on ASPI

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

ASPI thesis for this cash-secured put

The market-implied 1-standard-deviation range for ASPI extends from approximately $2.99 on the downside to $5.51 on the upside. A ASPI cash-secured put lets a trader earn premium while waiting to acquire ASPI 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 ASPI IV rank near 16.75% 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 ASPI at 103.65%. As a Basic Materials name, ASPI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ASPI-specific events.

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

Frequently asked questions

What is a cash-secured put on ASPI?: A cash-secured put on ASPI is the cash-secured put strategy applied to ASPI (stock). 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 ASPI stock at $4.25 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ASPI chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ASPI 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 ASPI cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 103.65%), the computed maximum profit is $17.50 per contract and the computed maximum loss is -$381.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ASPI cash-secured put?: The breakeven for the ASPI cash-secured put priced on this page is roughly $3.83 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 ASPI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 29.72%; 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 ASPI?: Cash-secured puts on ASPI earn premium while a trader waits to acquire ASPI stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ASPI.
How does current ASPI implied volatility affect this cash-secured put?: ASPI ATM IV is at 103.65% with IV rank near 16.75%, 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.