How are DBX 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 DBX cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 23.81%), the computed maximum profit is $75.00 per contract and the computed maximum loss is -$3,224.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the DBX cash-secured put priced on this page is roughly $32.25 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 DBX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.83%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

DBX ATM IV is at 23.81% with IV rank near 15.64%, 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.

DBX Cash-Secured Put Strategy

DBX (Dropbox, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.

Dropbox, Inc. engages in providing file backup, sync, and sharing solutions. Its products include Dropbox, Dropbox Reply, Dropbox Sign, Dropbox Reclaim.ai, Dropbox Dash, Dropbox DocSend, Dropbox Fax, and Dropbox Early access. It operates through the United States and International geographical segments. The company was founded by Andrew W. Houston and Arash Ferdowsi in May 2007 and is headquartered in San Francisco, CA.

DBX (Dropbox, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $8.56B, a trailing P/E of 17.07, a beta of 0.64 versus the broader market, a 52-week range of 21.695-35.72, average daily share volume of 3.9M, a public-listing history dating back to 2018, approximately 2K full-time employees. These structural characteristics shape how DBX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.64 indicates DBX has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a cash-secured put on DBX?

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.

DBX snapshot

As of August 14, 2026, spot at $34.59, ATM IV 23.81%, IV rank 15.64%, expected move 6.83%. The cash-secured put on DBX 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 DBX specifically: DBX IV at 23.81% is on the cheap side of its 1-year range, which means a premium-selling DBX cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 6.83% (roughly $2.36 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 DBX expiries trade a higher absolute premium for lower per-day decay. Position sizing on DBX should anchor to the underlying notional of $34.59 per share and to the trader's directional view on DBX stock.

DBX cash-secured put setup

The DBX 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 DBX at $34.59 on that close, the first option leg uses a $33.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DBX 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 DBX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$33.00	$0.75

DBX cash-secured put risk and reward

Net Premium / Debit: +$75.00
Max Profit (per contract): $75.00
Max Loss (per contract): -$3,224.00
Breakeven(s): $32.25
Risk / Reward Ratio: 0.023

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

DBX cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on DBX. 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%	-$3,224.00
$7.66	-77.9%	-$2,459.31
$15.30	-55.8%	-$1,694.61
$22.95	-33.6%	-$929.92
$30.60	-11.5%	-$165.23
$38.24	+10.6%	+$75.00
$45.89	+32.7%	+$75.00
$53.54	+54.8%	+$75.00
$61.19	+76.9%	+$75.00
$68.83	+99.0%	+$75.00

When traders use cash-secured put on DBX

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

DBX thesis for this cash-secured put

The market-implied 1-standard-deviation range for DBX extends from approximately $32.23 on the downside to $36.95 on the upside. A DBX cash-secured put lets a trader earn premium while waiting to acquire DBX 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 DBX IV rank near 15.64% 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 DBX at 23.81%. As a Technology name, DBX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DBX-specific events.

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

Frequently asked questions

What is a cash-secured put on DBX?: A cash-secured put on DBX is the cash-secured put strategy applied to DBX (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 DBX stock at $34.59 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed DBX chain strike and the premiums come straight from that session's bid/ask midpoint.
How are DBX 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 DBX cash-secured put priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 23.81%), the computed maximum profit is $75.00 per contract and the computed maximum loss is -$3,224.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a DBX cash-secured put?: The breakeven for the DBX cash-secured put priced on this page is roughly $32.25 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 DBX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.83%; 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 DBX?: Cash-secured puts on DBX earn premium while a trader waits to acquire DBX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning DBX.
How does current DBX implied volatility affect this cash-secured put?: DBX ATM IV is at 23.81% with IV rank near 15.64%, 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.