(PUTW) CBOE SP500 PutWrite - Overview
Etf: Put Options, Cash Collateral, Treasury Bills
Dividends
| Dividend Yield | 13.13% |
| Yield on Cost 5y | 19.14% |
| Yield CAGR 5y | 64.19% |
| Payout Consistency | 74.9% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 20.4% |
| Relative Tail Risk | 3.22% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.23 |
| Alpha | -8.69 |
| Character TTM | |
|---|---|
| Beta | 0.439 |
| Beta Downside | 0.718 |
| Drawdowns 3y | |
|---|---|
| Max DD | 14.01% |
| CAGR/Max DD | 0.73 |
Description: PUTW CBOE SP500 PutWrite December 30, 2025
The PUTW fund implements a cash-secured put-write strategy by selling SPY put options and holding cash that earns a rate approximating the three-month Treasury bill yield; the cash serves as collateral, and the fund’s performance tracks the net premium collected minus the cost of financing the collateral. The strategy is non-diversified and focuses exclusively on the S&P 500 index via the SPDR S&P 500 ETF (SPY).
Key quantitative drivers to monitor include:
• Premium yield: historically 5-7 % annualized on the cash-secured collateral, but highly sensitive to implied volatility (VIX) spikes.
• Expense ratio: 0.55 % (as of the latest filing), which erodes net yield relative to pure option-selling strategies.
• Interest-rate environment: a rising three-month Treasury rate improves cash-collateral earnings, partially offsetting higher option-selling premiums during volatile periods.
Macro-level, the strategy benefits from elevated equity-market volatility (higher option premiums) and a stable or modestly bullish S&P 500 trend, while large-cap sector concentration amplifies exposure to macro-driven earnings cycles.
For a deeper, data-driven assessment of PUTW’s risk-adjusted return profile, you may want to explore the analytics available on ValueRay.
What is the price of PUTW shares?
Over the past week, the price has changed by -1.79%, over one month by -1.89%, over three months by -0.80% and over the past year by -0.12%.
Is PUTW a buy, sell or hold?
What are the forecasts/targets for the PUTW price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 42.4 | 28.6% |
PUTW Fundamental Data Overview February 02, 2026
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 382.6m USD (382.6m + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
EV/FCF = unknown (FCF TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 382.6m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 382.6m / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 7.53% (E(382.6m)/V(382.6m) * Re(7.53%) + (debt-free company))
Discount Rate = 7.53% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Fair Price DCF = unknown (Cash Flow 0.0)