{"id":46256,"date":"2023-06-23T12:34:30","date_gmt":"2023-06-23T10:34:30","guid":{"rendered":"https:\/\/staging.captrader.com\/blog\/10-fragen-zum-handel-von-cash-secured-puts-an-maximilian-bothe\/"},"modified":"2024-11-29T10:23:42","modified_gmt":"2024-11-29T09:23:42","slug":"10-questions-about-trading-cash-secured-puts-to-maximilian-bothe","status":"publish","type":"blog","link":"https:\/\/www.captrader.com\/en\/blog\/10-fragen-zum-handel-von-cash-secured-puts-an-maximilian-bothe\/","title":{"rendered":"10 Questions on Trading Cash Secured Puts to Maximilian Bothe"},"content":{"rendered":"

What is a Cash Secured Put?<\/strong><\/strong><\/p>\n\n\n\n

Maximilian Bothe: A cash-secured put is a popular option. Option strategy<\/a> for investors to buy shares cheaply at a desired price. Until the price reaches the desired price, this strategy pays the writer for waiting with the premium received.<\/p>\n\n\n\n

And how exactly does a cash-secured put work?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: The prerequisite for trading a cash-secured put is that the investor would like to buy a share, but it seems too expensive for him at the moment. In contrast to a pure short put, the purpose of selling the put is not only to collect the possible premium, but also to book the shares. If a cash-secured put is sold far out of the money on the desired share, the seller of the Option<\/a> a premium for this. If the share price is still above the strike price at expiry, the option expires worthless. The investor\/strike holder has earned the premium. The investor can repeat this until the share price is below the strike price at expiry. In this case, 100 long shares would be booked into the investor's securities account at the strike price, regardless of how low the price has fallen.<\/p>\n\n\n\n

\"An<\/a>\"An<\/a>\n<\/div><\/div>\n\n\n\n

Can you show us an example?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: \"Yes, with pleasure. Let's assume, for example, a share that is worth buying at a current price of $ 48. However, the investor finds it too expensive at this price, because he would like to buy the shares only at $ 42,50. Instead of placing a limit order in the market and simply waiting, he sells a put (Cash Secured Put) at $ 42.50. For this he receives a premium. So he gets paid for waiting for the better \/ cheaper price.\"<\/p>\n\n\n\n

On which shares do you trade Cash Secured Puts?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: \"The basic prerequisite is the desire to buy a share, so the investor must first look at the company itself. First and foremost, I invest in the non-cyclical shares<\/a>, as they have low drawdown, high performance and low volatility. For a long-term account, these stocks are perfect.\"<\/p>\n\n\n\n

What happens to Cash Secured Puts in a crash?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: If there is a stock market crash, there is a very high probability that all Cash Secured Puts<\/a> run \"into the money\" and are tendered. However, if you pay attention to your risk and money management, this is not a problem and, if necessary, one or two cash-secured puts can still be rolled over.<\/p>\n\n\n\n

How do you roll a Cash Secured Put?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: In order to avoid tendering the shares through a cash-secured put, it is possible to use the sold Put option<\/a> roll (adjust). To do this, this option is closed at a loss and another put option is sold in the next term. You can find out more about this in this Video<\/a>.<\/p>\n\n\n\n

7) An option is a forward product and therefore has an expiration date. Which remaining terms do you choose for the cash secured put?<\/strong><\/strong><\/p>\n\n\n\n

Maximilian Bothe: \"In order to profit optimally from the time value loss, I usually select residual terms of approx. 50-80 days. If the investor wants to get the stock very cheap, then an option with a longer remaining term is recommended - due to the time value taken, the strike price is further away.\"<\/p>\n\n\n\n

What is the maximum number of Cash Secured Puts you should hold in your portfolio?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: \"One should regularly check the total amount due when all Cash Secured Puts are tendered. This amount should never exceed the available cash in an account, otherwise the account is over-leveraged. As a rule of thumb, we never trade more than half of our cash with Cash Secured Puts.\"<\/p>\n\n\n\n

What is the risk of a Cash Secured Put?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: \"The risk of a Cash Secured Put is never the option, but the delivery of 100 shares at the strike price. The strategy is therefore very dependent on the share price performance of the stock corporation.\"<\/p>\n\n\n\n

What returns are possible with Cash Secured Put trading?<\/strong><\/p>\n\n\n\n

Maximilian Bothe: \"With Cash Secured Put trading, returns between 5 and 10 % per annum are realistically achievable. I have more examples and details in our Cash Secured Put Guide<\/a> summarized.\"<\/p>\n\n\n\n

\"A<\/a>\"Person<\/a>\n<\/div><\/div>\n\n\n\n

If you are interested in trading Cash Secured Puts, you can use this option strategy implement optimally at CapTrader<\/a>.<\/p>\n\n\n\n

Thank you Maximilian for this interview!<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Was ist ein Cash Secured Put? Maximilian Bothe: Ein Cash Secured Put ist eine beliebte Optionsstrategie f\u00fcr Investoren, um Aktien bei einem Wunschpreis g\u00fcnstig zu kaufen. Bis der Kurs den Wunschpreis erreicht, wird der Stillhalter durch diese Strategie f\u00fcr das Warten mit der eingenommenen Pr\u00e4mie bezahlt. Und wie funktioniert ein Cash Secured Put genau? Maximilian […]<\/p>\n","protected":false},"author":7,"featured_media":46116,"menu_order":0,"template":"","blog-kategorie":[836],"class_list":["post-46256","blog","type-blog","status-publish","has-post-thumbnail","hentry","blog-kategorie-interview"],"acf":{"blog_summary":"","blog_faq_schalter":"ja","faq_uberschrift":"FAQ - H\u00e4ufig gestellte Fragen zu Cash Secured Puts","blog_faq_loop":[{"blog_faq_question":"Was ist ein Cash Secured Put?","blog_faq_answer":"Ein Cash Secured Put ist eine Optionsstrategie, die Investoren anwenden, um Aktien zu einem gew\u00fcnschten Preis g\u00fcnstig zu kaufen. Dabei wird eine Put-Option verkauft, und der Verk\u00e4ufer (Stillhalter) erh\u00e4lt eine Pr\u00e4mie. Die Strategie zielt darauf ab, die Aktien bei einem niedrigeren Preis zu erwerben, w\u00e4hrend bis dahin Pr\u00e4mien f\u00fcr das Warten eingenommen werden."},{"blog_faq_question":"Wie funktioniert ein Cash Secured Put?","blog_faq_answer":"Beim Verkauf eines Cash Secured Put legt sich der Investor darauf fest, Aktien zu einem bestimmten Preis (Strike-Preis) zu kaufen, falls der Kurs der Aktie unter diesen Preis f\u00e4llt. Daf\u00fcr erh\u00e4lt der Investor eine Pr\u00e4mie. Endet die Option bei Verfall \u00fcber dem Strike-Preis, verf\u00e4llt sie wertlos, und der Investor beh\u00e4lt die Pr\u00e4mie. Liegt der Kurs unter dem Strike-Preis, werden die Aktien zum festgelegten Preis gekauft."},{"blog_faq_question":"Kannst du ein Beispiel f\u00fcr einen Cash Secured Put geben?","blog_faq_answer":"Nehmen wir an, ein Investor m\u00f6chte eine Aktie, die aktuell $48 kostet, bei $42,50 kaufen. Anstatt zu warten, verkauft er einen Put mit einem Strike-Preis von $42,50 und erh\u00e4lt daf\u00fcr eine Pr\u00e4mie. Sollte der Kurs der Aktie bei Verfall \u00fcber $42,50 liegen, beh\u00e4lt der Investor die Pr\u00e4mie. F\u00e4llt der Kurs unter $42,50, kauft der Investor die Aktie zum gew\u00fcnschten Preis."},{"blog_faq_question":"Welche Restlaufzeiten sind f\u00fcr Cash Secured Puts optimal?","blog_faq_answer":"F\u00fcr Cash Secured Puts werden oft Restlaufzeiten von etwa 50-80 Tagen gew\u00e4hlt, um optimal vom Zeitwertverlust zu profitieren. Bei einem starken Kaufinteresse an der Aktie zu einem deutlich niedrigeren Preis kann auch eine l\u00e4ngere Laufzeit sinnvoll sein, da so der Strike-Preis weiter vom aktuellen Kurs entfernt sein kann."},{"blog_faq_question":"Was passiert mit Cash Secured Puts w\u00e4hrend eines Marktcrashs?","blog_faq_answer":"In einem Marktcrash ist die Wahrscheinlichkeit hoch, dass Cash Secured Puts \"ins Geld\" laufen und der Stillhalter die Aktien zu dem vereinbarten Preis kaufen muss. Mit einem soliden Risiko- und Money-Management und der M\u00f6glichkeit, Puts zu rollen, l\u00e4sst sich dieses Risiko jedoch managen."}]},"_links":{"self":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/blog\/46256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/types\/blog"}],"author":[{"embeddable":true,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/users\/7"}],"version-history":[{"count":1,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/blog\/46256\/revisions"}],"predecessor-version":[{"id":57037,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/blog\/46256\/revisions\/57037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/media\/46116"}],"wp:attachment":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/media?parent=46256"}],"wp:term":[{"taxonomy":"blog-kategorie","embeddable":true,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/blog-kategorie?post=46256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}