How are RELY 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 RELY cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 41.50%), the computed maximum profit is $82.50 per contract and the computed maximum loss is -$2,116.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the RELY cash-secured put priced on this page is roughly $21.18 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 RELY market-implied 1-standard-deviation expected move is approximately 11.90%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

RELY ATM IV is at 41.50% with IV rank near 9.33%, 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.

RELY Cash-Secured Put Strategy

RELY (Remitly Global, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.

Remitly Global, Inc. provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 150 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.

RELY (Remitly Global, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $5.00B, a trailing P/E of 47.45, a beta of 0.40 versus the broader market, a 52-week range of 12.08-24.92, average daily share volume of 4.3M, a public-listing history dating back to 2021, approximately 3K full-time employees. These structural characteristics shape how RELY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.40 indicates RELY has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 47.45 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.

What is a cash-secured put on RELY?

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 RELY snapshot

As of May 15, 2026, spot at $22.69, ATM IV 41.50%, IV rank 9.33%, expected move 11.90%. The cash-secured put on RELY 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 34-day expiry.

Why this cash-secured put structure on RELY specifically: RELY IV at 41.50% is on the cheap side of its 1-year range, which means a premium-selling RELY cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 11.90% (roughly $2.70 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated RELY expiries trade a higher absolute premium for lower per-day decay. Position sizing on RELY should anchor to the underlying notional of $22.69 per share and to the trader's directional view on RELY stock.

RELY cash-secured put setup

The RELY 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 RELY near $22.69, the first option leg uses a $22.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RELY chain at a 34-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 RELY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$22.00	$0.83

RELY cash-secured put risk and reward

Net Premium / Debit: +$82.50
Max Profit (per contract): $82.50
Max Loss (per contract): -$2,116.50
Breakeven(s): $21.18
Risk / Reward Ratio: 0.039

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

RELY cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on RELY. 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.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$2,116.50
$5.03	-77.9%	-$1,614.92
$10.04	-55.7%	-$1,113.34
$15.06	-33.6%	-$611.77
$20.07	-11.5%	-$110.19
$25.09	+10.6%	+$82.50
$30.10	+32.7%	+$82.50
$35.12	+54.8%	+$82.50
$40.14	+76.9%	+$82.50
$45.15	+99.0%	+$82.50

When traders use cash-secured put on RELY

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

RELY thesis for this cash-secured put

The market-implied 1-standard-deviation range for RELY extends from approximately $19.99 on the downside to $25.39 on the upside. A RELY cash-secured put lets a trader earn premium while waiting to acquire RELY 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 RELY IV rank near 9.33% 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 RELY at 41.50%. As a Technology name, RELY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RELY-specific events.

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

Frequently asked questions

What is a cash-secured put on RELY?: A cash-secured put on RELY is the cash-secured put strategy applied to RELY (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 RELY stock trading near $22.69, the strikes shown on this page are snapped to the nearest listed RELY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are RELY 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 RELY cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 41.50%), the computed maximum profit is $82.50 per contract and the computed maximum loss is -$2,116.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a RELY cash-secured put?: The breakeven for the RELY cash-secured put priced on this page is roughly $21.18 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 RELY market-implied 1-standard-deviation expected move is approximately 11.90%; 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 RELY?: Cash-secured puts on RELY earn premium while a trader waits to acquire RELY stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning RELY.
How does current RELY implied volatility affect this cash-secured put?: RELY ATM IV is at 41.50% with IV rank near 9.33%, 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.