Live option-chain quotes. Annualized yield, breakeven, effective cost basis, and downside buffer for 234+ of the most-traded tickers — instantly.
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Each contract secures 100 shares (so 100 shares of collateral).
Auto-fills to the chain mid. Override with your actual fill price for accurate results.
This calculator answers the “what if” question on a single put. CoverEdge answers it across your whole book — every put, every roll, every assignment, and the covered calls you sell after — without a spreadsheet.
SnapTrade pulls every put fill, expiration, and assignment into CoverEdge automatically. No CSV uploads.
When a put is assigned, CoverEdge tracks the resulting shares and the covered calls you write against them — the full wheel, one ledger.
Every premium, close, and assignment hits an immutable ledger. Reconciliation is built in. Tax season becomes a 5-minute export.
Each ticker has its own dedicated calculator page with ticker-specific guidance, live put chain, and IV commentary.
A cash-secured put is one of the simplest options-income trades: you sell a put option on a stock you'd be happy to own, and you set aside enough cash to buy 100 shares per contract at the strike if you're assigned. The buyer pays you a premium for the right to sell you the shares at the strike by expiration. If the stock stays above the strike, the put expires worthless and you keep the premium — that's the “return if expired” the calculator shows. If it finishes below, you buy the shares at an effective price of strike minus premium.
Cash-secured puts are the entry leg of the wheel strategy: you sell puts to get paid while you wait to buy a stock at your price, and if you're assigned, you switch to selling covered calls against the shares. For ticker shortlists, see our guides on the best stocks for cash-secured puts and best stocks for the wheel strategy.
This is a single-trade projection tool. It assumes you hold the put until expiration and either keep the premium or get assigned. Real-world income tracking has to account for rolls, early assignment, the covered calls you sell after assignment, wash-sale rules, and tax-lot accounting. That's where CoverEdge comes in — every one of those events lands in an immutable ledger and feeds the dashboard automatically. Start a free 14-day trial below (no card) when you're ready for the real thing.
Pick a ticker, set how many puts you want to sell, choose an expiration and strike, and the calculator pulls live option-chain quotes to compute your premium received, cash collateral required, effective cost basis, breakeven, downside buffer, and annualized yield. Everything updates instantly — no signup required.
Strike price × 100 per contract. A $30 strike reserves $3,000; a $200 strike reserves $20,000. That cash is held as collateral so you can buy the shares at the strike if you're assigned — which is what makes the put 'cash-secured' rather than 'naked'. The calculator's 'Cash secured' figure shows this for your chosen strike and contract count.
Your breakeven (and effective cost basis if assigned) is the strike price minus the premium per share you collected. As long as the stock stays above the strike at expiration, the put expires worthless and you keep the full premium; if it's below, you buy the shares at an effective price of strike − premium.
Annualized return is the yield you'd earn if you could repeat the same put sale every period for a full year, computed as (premium ÷ cash collateral) × (365 ÷ days to expiration). It lets you compare a 7-day weekly against a 45-day monthly on an apples-to-apples basis. The calculator computes the yield against the strike (the cash actually secured), which is the correct denominator for a cash-secured put.
If the stock closes below your strike at expiration, you buy 100 shares per contract at the strike price using your reserved cash. Your effective cost basis is the strike minus the premium you collected. Many wheel-strategy traders then sell covered calls against those shares to keep generating income.
The free calculator runs on a curated allowlist of the most actively-traded US stocks and ETFs (currently 200+ tickers). To analyze any optionable symbol, start your free 14-day Pro trial — no credit card required.
CoverEdge auto-syncs from 80+ brokerages and gives you a full income ledger, wheel-aware assignment tracking, and tax-ready exports.
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Run the math on the other side of the wheel, or let the screener rank the whole market.
The exit leg of the wheel. Compute annualized yield and assignment P&L on any covered call.
Top cash-secured put setups across 200+ tickers, ranked by annualized yield × probability of expiring OTM.
Same engine, call side. The highest-yielding covered calls in the market, updated every 10 minutes.