How are ATEX 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 ATEX cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 83.10%), the computed maximum profit is $855.00 per contract and the computed maximum loss is -$8,144.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the ATEX cash-secured put priced on this page is roughly $81.45 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current ATEX market-implied 1-standard-deviation expected move is approximately 23.82%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

ATEX ATM IV is at 83.10% with IV rank near 33.88%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

ATEX Cash-Secured Put Strategy

ATEX (Anterix Inc.), in the Communication Services sector, (Telecommunications Services industry), listed on NASDAQ.

Anterix Inc. operates as a specialist in wireless communications, primarily focusing on monetizing its distinct radio spectrum holdings. The company's main objective is to empower essential utility and critical infrastructure clients by enabling them to deploy bespoke broadband networks, advanced technologies, and tailored solutions. Anterix holds exclusive licenses for 900 MHz spectrum, which provides extensive coverage throughout the continental United States, as well as Alaska, Hawaii, and Puerto Rico. Originally established in 1997, the firm was formerly recognized as pdvWireless, Inc. before officially rebranding to Anterix Inc. in August 2019. Its corporate headquarters are located in Woodland Park, New Jersey.

ATEX (Anterix Inc.) trades in the Communication Services sector, specifically Telecommunications Services, with a market capitalization of approximately $1.70B, a trailing P/E of 18.56, a beta of 0.94 versus the broader market, a 52-week range of 17.58-90, average daily share volume of 398K, a public-listing history dating back to 2015, approximately 86 full-time employees. These structural characteristics shape how ATEX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.94 places ATEX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a cash-secured put on ATEX?

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.

Current ATEX snapshot

As of June 29, 2026, spot at $96.34, ATM IV 83.10%, IV rank 33.88%, expected move 23.82%. The cash-secured put on ATEX below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 53-day expiry.

Why this cash-secured put structure on ATEX specifically: ATEX IV at 83.10% is mid-range versus its 1-year history, so the credit collected on a ATEX cash-secured put sits in line with its long-run distribution, with a market-implied 1-standard-deviation move of approximately 23.82% (roughly $22.95 on the underlying). The 53-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ATEX expiries trade a higher absolute premium for lower per-day decay. Position sizing on ATEX should anchor to the underlying notional of $96.34 per share and to the trader's directional view on ATEX stock.

ATEX cash-secured put setup

The ATEX cash-secured put below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ATEX near $96.34, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ATEX chain at a 53-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 ATEX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$90.00	$8.55

ATEX cash-secured put risk and reward

Net Premium / Debit: +$855.00
Max Profit (per contract): $855.00
Max Loss (per contract): -$8,144.00
Breakeven(s): $81.45
Risk / Reward Ratio: 0.105

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

ATEX cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on ATEX. 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%	-$8,144.00
$21.31	-77.9%	-$6,013.98
$42.61	-55.8%	-$3,883.96
$63.91	-33.7%	-$1,753.94
$85.21	-11.6%	+$376.08
$106.51	+10.6%	+$855.00
$127.81	+32.7%	+$855.00
$149.11	+54.8%	+$855.00
$170.41	+76.9%	+$855.00
$191.71	+99.0%	+$855.00

When traders use cash-secured put on ATEX

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

ATEX thesis for this cash-secured put

The market-implied 1-standard-deviation range for ATEX extends from approximately $73.39 on the downside to $119.29 on the upside. A ATEX cash-secured put lets a trader earn premium while waiting to acquire ATEX 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 ATEX IV rank near 33.88% is mid-range against its 1-year distribution, so the IV signal is neutral; the cash-secured put thesis on ATEX should anchor more to the directional view and the expected-move geometry. As a Communication Services name, ATEX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ATEX-specific events.

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

Frequently asked questions

What is a cash-secured put on ATEX?: A cash-secured put on ATEX is the cash-secured put strategy applied to ATEX (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 ATEX stock trading near $96.34, the strikes shown on this page are snapped to the nearest listed ATEX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ATEX 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 ATEX cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 83.10%), the computed maximum profit is $855.00 per contract and the computed maximum loss is -$8,144.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ATEX cash-secured put?: The breakeven for the ATEX cash-secured put priced on this page is roughly $81.45 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current ATEX market-implied 1-standard-deviation expected move is approximately 23.82%; 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 ATEX?: Cash-secured puts on ATEX earn premium while a trader waits to acquire ATEX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning ATEX.
How does current ATEX implied volatility affect this cash-secured put?: ATEX ATM IV is at 83.10% with IV rank near 33.88%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.