Choosing a strike for the put

Shared workspace on Qwidgets tracking prediction markets with data from Kalshi, Polymarket, and more. Live prices, candlestick charts, order books, and historical analytics for every event and market on this page.

Markets in this workspace

Three cash-secured puts on XLF, all expiring November 6, 2026, at strikes further from and closer to the current price. The underlying was chosen to illustrate the idea; it isn't a recommendation. Quotes are delayed. Contracts last selected September 28, 2026.

Closer to the current price, the premium is larger and so is the chance the put finishes in the money and you're assigned. Further away, you keep more often and keep less. The chain above shows each strike's delta, a rough stand-in for that chance.

On the chain, switch to a later expiration and see how the premium at the same delta changes. Nothing you change here is saved.

Read the lesson: Choosing strikes and expirations.