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15-min delayed
Strategy · Live on SPY $652.40
Cash-secured put
beginnerconservative/moderate riskSet aside cash, sell a put at your target buy price, collect premium.
Payoff workbench
Cash-secured put on SPY at $652.40
Expiry
Contracts1
Drag anywhere on the chart to test a price at expiryP/L at expiry · 1 contract (100 sh)
▲ +$575
full premium keptno shares boughtrun it again
Stock stayed above your strike. Put expired worthless.
You kept the full premium and never got assigned. Sell another put if you still like the level.
Credit collected
+$575
5.75/sh × 100 sh
Your P/L at $683
+$575
at the dragged expiry price
Break-even
$614.25
Cash to secure
$61,425
Modelled estimate: premiums are approximations from delayed quotes. Confirm at your broker.
Live chain
Pick your strike: SPY puts · 30 days out
How it’s built
The legs: toggle them to see why each one matters
Cash collateral $62,000
Held against assignment
Short 1 put · $620 · 30d
Premium +$575
Result
Cash-secured put
Cash backs the put. Get paid to wait for your buy price.
Pairs well with
Unfamiliar term? The glossary defines it in a sentence, and the plain-English guides cover the ideas in longer form.
Educational only, not financial advice. Quotes delayed at least 15 minutes. Premiums, deltas and probabilities are modelled estimates, not live market quotes. Confirm at your broker. Denaras never places trades.