How are FSOL 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 FSOL bear put spread priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.10%), the computed maximum profit is $57.50 per contract and the computed maximum loss is -$42.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FSOL bear put spread?

The breakeven for the FSOL bear put spread priced on this page is roughly $13.58 at expiration, derived from the September 29, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The FSOL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.23%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

FSOL ATM IV is at 60.10% with IV rank near 11.90%, 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.

FSOL Bear Put Spread Strategy

FSOL (Fidelity Solana Fund), in the Financial Services sector, (Asset Management industry), listed on AMEX.

FSOL is passively managed to track the price performance of Solana (SOL), as measured by the Fidelity Solana Reference Rate, adjusted for expenses and staking rewards. The Trust holds SOL and stakes it via institutional custodians to earn staking rewards, with these rewards expected to allow the Trust to outperform the reference rate before expenses. The reference rate uses SOL price feeds and volume-weighted median pricing, updating every 15 seconds. Investors have exposure to SOL without direct digital asset handling. SOL is the asset powering the decentralized Solana blockchain, used for transactions and smart contracts. The Solana network is often praised for its speed and low costs, some question the reliability as the platform has a history of outages and is too centralized.

FSOL (Fidelity Solana Fund) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $228.6M, a beta of 0.97 versus the broader market, a 52-week range of 7.26-17.48, average daily share volume of 325K, a public-listing history dating back to 2025. These structural characteristics shape how FSOL etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.97 places FSOL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. FSOL 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 FSOL?

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.

FSOL snapshot

As of September 29, 2026, spot at $13.98, ATM IV 60.10%, IV rank 11.90%, expected move 17.23%. The bear put spread on FSOL below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.

Why this bear put spread structure on FSOL specifically: FSOL IV at 60.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a FSOL bear put spread, with a market-implied 1-standard-deviation move of approximately 17.23% (roughly $2.41 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FSOL expiries trade a higher absolute premium for lower per-day decay. Position sizing on FSOL should anchor to the underlying notional of $13.98 per share and to the trader's directional view on FSOL etf.

FSOL bear put spread setup

The FSOL bear put spread below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With FSOL at $13.98 on that close, the first option leg uses a $14.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FSOL chain at a 17-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 FSOL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$14.00	$0.70
Sell 1	Put	$13.00	$0.28

FSOL bear put spread risk and reward

Net Premium / Debit: -$42.50
Max Profit (per contract): $57.50
Max Loss (per contract): -$42.50
Breakeven(s): $13.58
Risk / Reward Ratio: 1.353

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.

FSOL bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on FSOL. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	+$57.50
$3.10	-77.8%	+$57.50
$6.19	-55.7%	+$57.50
$9.28	-33.6%	+$57.50
$12.37	-11.5%	+$57.50
$15.46	+10.6%	-$42.50
$18.55	+32.7%	-$42.50
$21.64	+54.8%	-$42.50
$24.73	+76.9%	-$42.50
$27.82	+99.0%	-$42.50

When traders use bear put spread on FSOL

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

FSOL thesis for this bear put spread

The market-implied 1-standard-deviation range for FSOL extends from approximately $11.57 on the downside to $16.39 on the upside. A FSOL bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on FSOL, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current FSOL IV rank near 11.90% 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 FSOL at 60.10%. As a Financial Services name, FSOL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FSOL-specific events.

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

Frequently asked questions

What is a bear put spread on FSOL?: A bear put spread on FSOL is the bear put spread strategy applied to FSOL (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 FSOL etf at $13.98 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed FSOL chain strike and the premiums come straight from that session's bid/ask midpoint.
How are FSOL 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 FSOL bear put spread priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.10%), the computed maximum profit is $57.50 per contract and the computed maximum loss is -$42.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FSOL bear put spread?: The breakeven for the FSOL bear put spread priced on this page is roughly $13.58 at expiration, derived from the September 29, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The FSOL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.23%; 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 FSOL?: Bear put spreads on FSOL reduce the cost of a bearish FSOL 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 FSOL implied volatility affect this bear put spread?: FSOL ATM IV is at 60.10% with IV rank near 11.90%, 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.