How are PTIR 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 PTIR bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 99.60%), 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 PTIR bear put spread?

The breakeven for the PTIR 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 PTIR market-implied 1-standard-deviation expected move is approximately 28.55%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

PTIR ATM IV is at 99.60% with IV rank near 52.98%, 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.

PTIR Bear Put Spread Strategy

PTIR (GraniteShares 2x Long PLTR Daily ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This Fund aims to deliver daily investment performance that, before accounting for fees and expenses, is equivalent to two times (200%) the daily percentage movement of Palantir Technologies Inc.'s common stock (NASDAQ: PLTR). It is important to note that the Fund cannot guarantee it will consistently achieve this objective. Furthermore, for holding periods extending beyond a single day, investors should not anticipate its cumulative return to directly correspond to twice the cumulative return of PLTR.

PTIR (GraniteShares 2x Long PLTR Daily ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $242.0M, a beta of 1.88 versus the broader market, a 52-week range of 7.845-40.78, average daily share volume of 5.1M, a public-listing history dating back to 2024. These structural characteristics shape how PTIR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.88 indicates PTIR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. PTIR 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 PTIR?

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 PTIR snapshot

As of June 30, 2026, spot at $9.39, ATM IV 99.60%, IV rank 52.98%, expected move 28.55%. The bear put spread on PTIR 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 17-day expiry.

Why this bear put spread structure on PTIR specifically: PTIR IV at 99.60% 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 28.55% (roughly $2.68 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 PTIR expiries trade a higher absolute premium for lower per-day decay. Position sizing on PTIR should anchor to the underlying notional of $9.39 per share and to the trader's directional view on PTIR etf.

PTIR bear put spread setup

The PTIR 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 PTIR near $9.39, the first option leg uses a $9.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PTIR 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 PTIR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$9.00	$0.73
Sell 1	Put	$9.00	$0.73

PTIR 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.

PTIR bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on PTIR. 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%	$0.00
$2.09	-77.8%	$0.00
$4.16	-55.7%	$0.00
$6.24	-33.6%	$0.00
$8.31	-11.5%	$0.00
$10.39	+10.6%	$0.00
$12.46	+32.7%	$0.00
$14.54	+54.8%	$0.00
$16.61	+76.9%	$0.00
$18.69	+99.0%	$0.00

When traders use bear put spread on PTIR

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

PTIR thesis for this bear put spread

The market-implied 1-standard-deviation range for PTIR extends from approximately $6.71 on the downside to $12.07 on the upside. A PTIR bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on PTIR, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current PTIR IV rank near 52.98% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on PTIR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, PTIR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PTIR-specific events.

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

Frequently asked questions

What is a bear put spread on PTIR?: A bear put spread on PTIR is the bear put spread strategy applied to PTIR (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 PTIR etf trading near $9.39, the strikes shown on this page are snapped to the nearest listed PTIR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are PTIR 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 PTIR bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 99.60%), 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 PTIR bear put spread?: The breakeven for the PTIR 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 PTIR market-implied 1-standard-deviation expected move is approximately 28.55%; 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 PTIR?: Bear put spreads on PTIR reduce the cost of a bearish PTIR 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 PTIR implied volatility affect this bear put spread?: PTIR ATM IV is at 99.60% with IV rank near 52.98%, 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.