How are EETH 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 EETH bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 50.80%), the computed maximum profit is $15.00 per contract and the computed maximum loss is -$85.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a EETH bear put spread?

The breakeven for the EETH bear put spread priced on this page is roughly $26.15 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 EETH market-implied 1-standard-deviation expected move is approximately 14.56%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current EETH implied volatility affect this bear put spread?

EETH ATM IV is at 50.80% with IV rank near 7.36%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

EETH Bear Put Spread Strategy

EETH (ProShares - Ether ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

EETH seeks to mirror the performance of ether (ETH) through standardized futures contracts traded on the Chicago Mercantile Exchange (CME). The fund invests primarily in USD cash-settled, front-month CME ether futures contracts while also considering back-month contracts. To maintain its exposure to ether, the fund replaces expiring futures contracts with new ones having later expiration dates. Additionally, the fund may utilize proceeds from reverse repurchase agreements as leverage to achieve the desired level of exposure. Investments are made via a wholly-owned Cayman Island subsidiary, capped at 25% at each quarter end. Note that investing in ETH futures carries high risk, including the potential for total loss.

EETH (ProShares - Ether ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $69.4M, a beta of 3.11 versus the broader market, a 52-week range of 22.435-84.43, average daily share volume of 71K, a public-listing history dating back to 2023. These structural characteristics shape how EETH etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 3.11 indicates EETH has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. EETH pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a bear put spread on EETH?

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 EETH snapshot

As of May 15, 2026, spot at $27.33, ATM IV 50.80%, IV rank 7.36%, expected move 14.56%. The bear put spread on EETH 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 34-day expiry.

Why this bear put spread structure on EETH specifically: EETH IV at 50.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a EETH bear put spread, with a market-implied 1-standard-deviation move of approximately 14.56% (roughly $3.98 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EETH expiries trade a higher absolute premium for lower per-day decay. Position sizing on EETH should anchor to the underlying notional of $27.33 per share and to the trader's directional view on EETH etf.

EETH bear put spread setup

The EETH 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 EETH near $27.33, the first option leg uses a $27.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EETH chain at a 34-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 EETH shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$27.00	$1.78
Sell 1	Put	$26.00	$0.93

EETH bear put spread risk and reward

Net Premium / Debit: -$85.00
Max Profit (per contract): $15.00
Max Loss (per contract): -$85.00
Breakeven(s): $26.15
Risk / Reward Ratio: 0.176

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.

EETH bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on EETH. 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	-100.0%	+$15.00
$6.05	-77.9%	+$15.00
$12.09	-55.8%	+$15.00
$18.14	-33.6%	+$15.00
$24.18	-11.5%	+$15.00
$30.22	+10.6%	-$85.00
$36.26	+32.7%	-$85.00
$42.30	+54.8%	-$85.00
$48.34	+76.9%	-$85.00
$54.39	+99.0%	-$85.00

When traders use bear put spread on EETH

Bear put spreads on EETH reduce the cost of a bearish EETH etf position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.

EETH thesis for this bear put spread

The market-implied 1-standard-deviation range for EETH extends from approximately $23.35 on the downside to $31.31 on the upside. A EETH bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on EETH, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current EETH IV rank near 7.36% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on EETH at 50.80%. As a Financial Services name, EETH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EETH-specific events.

EETH 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. EETH positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EETH alongside the broader basket even when EETH-specific fundamentals are unchanged. Long-premium structures like a bear put spread on EETH 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 EETH chain quotes before placing a trade.

Frequently asked questions

What is a bear put spread on EETH?: A bear put spread on EETH is the bear put spread strategy applied to EETH (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 EETH etf trading near $27.33, the strikes shown on this page are snapped to the nearest listed EETH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are EETH 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 EETH bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 50.80%), the computed maximum profit is $15.00 per contract and the computed maximum loss is -$85.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a EETH bear put spread?: The breakeven for the EETH bear put spread priced on this page is roughly $26.15 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 EETH market-implied 1-standard-deviation expected move is approximately 14.56%; 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 EETH?: Bear put spreads on EETH reduce the cost of a bearish EETH 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 EETH implied volatility affect this bear put spread?: EETH ATM IV is at 50.80% with IV rank near 7.36%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.