How are TMUS 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 TMUS cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 37.61%), the computed maximum profit is $355.00 per contract and the computed maximum loss is -$16,144.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

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

The breakeven for the TMUS cash-secured put priced on this page is roughly $161.45 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 TMUS market-implied 1-standard-deviation expected move is approximately 10.78%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

TMUS ATM IV is at 37.61% with IV rank near 86.25%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

TMUS Cash-Secured Put Strategy

TMUS (T-Mobile US, Inc.), in the Communication Services sector, (Telecommunications Services industry), listed on NASDAQ.

T-Mobile US, Inc., alongside its subsidiaries, offers mobile telecommunications services across the United States, Puerto Rico, and the U.S. Virgin Islands. Catering to approximately 108.7 million subscribers, the company delivers essential voice, messaging, and data connectivity to customers in postpaid, prepaid, and wholesale segments. Beyond services, T-Mobile also supplies a broad array of wireless devices, such as smartphones, wearables, tablets, and other mobile communication gadgets, along with associated accessories. These offerings are marketed under both the T-Mobile and Metro by T-Mobile brands. Direct distribution occurs through its proprietary retail stores, the T-Mobile mobile application, customer service channels, and its official online platforms.

TMUS (T-Mobile US, Inc.) trades in the Communication Services sector, specifically Telecommunications Services, with a market capitalization of approximately $197.70B, a trailing P/E of 19.06, a beta of 0.30 versus the broader market, a 52-week range of 174.02-261.56, average daily share volume of 5.8M, a public-listing history dating back to 2007, approximately 70K full-time employees. These structural characteristics shape how TMUS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.30 indicates TMUS has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. TMUS 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 TMUS?

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 TMUS snapshot

As of June 29, 2026, spot at $173.76, ATM IV 37.61%, IV rank 86.25%, expected move 10.78%. The cash-secured put on TMUS 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 32-day expiry.

Why this cash-secured put structure on TMUS specifically: TMUS IV at 37.61% is rich versus its 1-year range, which favors premium-selling structures like a TMUS cash-secured put, with a market-implied 1-standard-deviation move of approximately 10.78% (roughly $18.74 on the underlying). The 32-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TMUS expiries trade a higher absolute premium for lower per-day decay. Position sizing on TMUS should anchor to the underlying notional of $173.76 per share and to the trader's directional view on TMUS stock.

TMUS cash-secured put setup

The TMUS 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 TMUS near $173.76, the first option leg uses a $165.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TMUS chain at a 32-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 TMUS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Sell 1	Put	$165.00	$3.55

TMUS cash-secured put risk and reward

Net Premium / Debit: +$355.00
Max Profit (per contract): $355.00
Max Loss (per contract): -$16,144.00
Breakeven(s): $161.45
Risk / Reward Ratio: 0.022

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

TMUS cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on TMUS. 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%	-$16,144.00
$38.43	-77.9%	-$12,302.18
$76.85	-55.8%	-$8,460.36
$115.26	-33.7%	-$4,618.54
$153.68	-11.6%	-$776.72
$192.10	+10.6%	+$355.00
$230.52	+32.7%	+$355.00
$268.94	+54.8%	+$355.00
$307.36	+76.9%	+$355.00
$345.77	+99.0%	+$355.00

When traders use cash-secured put on TMUS

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

TMUS thesis for this cash-secured put

The market-implied 1-standard-deviation range for TMUS extends from approximately $155.02 on the downside to $192.50 on the upside. A TMUS cash-secured put lets a trader earn premium while waiting to acquire TMUS 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 TMUS IV rank near 86.25% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on TMUS at 37.61%. As a Communication Services name, TMUS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TMUS-specific events.

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

Frequently asked questions

What is a cash-secured put on TMUS?: A cash-secured put on TMUS is the cash-secured put strategy applied to TMUS (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 TMUS stock trading near $173.76, the strikes shown on this page are snapped to the nearest listed TMUS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are TMUS 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 TMUS cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 37.61%), the computed maximum profit is $355.00 per contract and the computed maximum loss is -$16,144.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a TMUS cash-secured put?: The breakeven for the TMUS cash-secured put priced on this page is roughly $161.45 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 TMUS market-implied 1-standard-deviation expected move is approximately 10.78%; 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 TMUS?: Cash-secured puts on TMUS earn premium while a trader waits to acquire TMUS stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning TMUS.
How does current TMUS implied volatility affect this cash-secured put?: TMUS ATM IV is at 37.61% with IV rank near 86.25%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.