COIG Bear Put Spread Strategy
COIG (Leverage Shares 2x Long COIN Daily ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The Leverage Shares 2x Long COIN Daily ETF (COIG) is a 2x Daily Leveraged (Bull) ETF designed for active traders seeking to magnify short-term results. The COIG ETF aims to achieve two times (200%) the daily performance of COIN stock, minus fees and expenses.
COIG (Leverage Shares 2x Long COIN Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $1.4M, a beta of 4.35 versus the broader market, a 52-week range of 4.97-71.989, average daily share volume of 136K, a public-listing history dating back to 2025. These structural characteristics shape how COIG etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 4.35 indicates COIG has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a bear put spread on COIG?
A bear put spread buys an at-the-money put and sells an out-of-the-money put at a lower strike for defined risk and defined reward bounded by the strike width.
Current COIG snapshot
As of May 15, 2026, spot at $8.05, ATM IV 140.20%, IV rank 66.84%, expected move 40.19%. The bear put spread on COIG below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 98-day expiry.
Why this bear put spread structure on COIG specifically: COIG IV at 140.20% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 40.19% (roughly $3.24 on the underlying). The 98-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated COIG expiries trade a higher absolute premium for lower per-day decay. Position sizing on COIG should anchor to the underlying notional of $8.05 per share and to the trader's directional view on COIG etf.
COIG bear put spread setup
The COIG bear put spread below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With COIG near $8.05, the first option leg uses a $8.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed COIG chain at a 98-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 COIG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $8.00 | $2.20 |
| Sell 1 | Put | $8.00 | $2.20 |
COIG bear put spread risk and reward
- Net Premium / Debit
- $0.00
- Max Profit (per contract)
- $0.00
- Max Loss (per contract)
- $0.00
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-put strike minus net debit.
COIG bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on COIG. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -99.9% | $0.00 |
| $1.79 | -77.8% | $0.00 |
| $3.57 | -55.7% | $0.00 |
| $5.35 | -33.6% | $0.00 |
| $7.13 | -11.5% | $0.00 |
| $8.90 | +10.6% | $0.00 |
| $10.68 | +32.7% | $0.00 |
| $12.46 | +54.8% | $0.00 |
| $14.24 | +76.9% | $0.00 |
| $16.02 | +99.0% | $0.00 |
When traders use bear put spread on COIG
Bear put spreads on COIG reduce the cost of a bearish COIG etf position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
COIG thesis for this bear put spread
The market-implied 1-standard-deviation range for COIG extends from approximately $4.81 on the downside to $11.29 on the upside. A COIG bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on COIG, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current COIG IV rank near 66.84% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on COIG should anchor more to the directional view and the expected-move geometry. As a Financial Services name, COIG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to COIG-specific events.
COIG bear put spread positions are structurally moderately bearish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. COIG positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move COIG alongside the broader basket even when COIG-specific fundamentals are unchanged. Long-premium structures like a bear put spread on COIG are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current COIG chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on COIG?
- A bear put spread on COIG is the bear put spread strategy applied to COIG (etf). The strategy is structurally moderately bearish: A bear put spread buys an at-the-money put and sells an out-of-the-money put at a lower strike for defined risk and defined reward bounded by the strike width. With COIG etf trading near $8.05, the strikes shown on this page are snapped to the nearest listed COIG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are COIG bear put spread max profit and max loss calculated?
- Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-put strike minus net debit. For the COIG bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 140.20%), the computed maximum profit is $0.00 per contract and the computed maximum loss is $0.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a COIG bear put spread?
- The breakeven for the COIG bear put spread priced on this page is no defined breakeven on the modeled curve at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current COIG market-implied 1-standard-deviation expected move is approximately 40.19%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a bear put spread on COIG?
- Bear put spreads on COIG reduce the cost of a bearish COIG etf position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
- How does current COIG implied volatility affect this bear put spread?
- COIG ATM IV is at 140.20% with IV rank near 66.84%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.