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Cash-secured put calculator

Selling a cash-secured put means setting aside enough cash to buy 100 shares per contract at the strike price, and collecting a premium for it. If the stock ends below the strike, you buy the shares at the strike; your effective cost is the strike minus the premium.

Contracts

Put strike price ($)

Premium received per share ($)

Days until expiration

Current stock price ($)

Cash required–

Premium received–

Return on cash–

Annualized return–

Breakeven / cost if assigned–

Stock can fall before loss–

Before commissions and taxes. Assumes held to expiration.

Cash-secured put formulas

Cash required = strike × 100 × contracts. Premium = premium per share × 100 × contracts. Return = premium ÷ strike. Annualized return = return × 365 ÷ days. Breakeven (and your net cost per share if assigned) = strike − premium.

Common questions

How much cash do I need for a cash-secured put?

Strike price × 100 for each contract. A $45 strike needs $4,500 per contract.

What is the return on a cash-secured put?

Premium ÷ strike for the period, or × 365 ÷ days to annualize it.

What is the wheel strategy?

Selling cash-secured puts until assigned, then selling covered calls on the shares until they are called away, and repeating.

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Last reviewed October 31, 2026. This calculator gives estimates for education and planning only. Results depend entirely on the numbers you enter and the assumptions stated on this page; they are not investment, tax or trading advice, and real results will differ.