How are SDIV 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 SDIV bear put spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 4.80%), the computed maximum profit is $91.50 per contract and the computed maximum loss is -$108.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a SDIV bear put spread?

The breakeven for the SDIV bear put spread priced on this page is roughly $23.92 at expiration, derived from the August 14, 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 SDIV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 1.38%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

SDIV ATM IV is at 4.80% with IV rank near 0.77%, 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.

SDIV Bear Put Spread Strategy

SDIV (Global X - SuperDividend ETF), in the Financial Services sector, (Asset Management - Income industry), listed on AMEX.

The Global X SuperDividend ETF (SDIV) aims to deliver financial returns that closely mirror both the price movements and dividend income generated by the Solactive Global SuperDividend Index. This performance objective is measured before any deductions for the ETF's own operational fees and expenses.

SDIV (Global X - SuperDividend ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $1.18B, a beta of 0.65 versus the broader market, a 52-week range of 22.9-26.44, average daily share volume of 457K, a public-listing history dating back to 2011. These structural characteristics shape how SDIV etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.65 indicates SDIV has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. SDIV 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 SDIV?

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.

SDIV snapshot

As of August 14, 2026, spot at $24.60, ATM IV 4.80%, IV rank 0.77%, expected move 1.38%. The bear put spread on SDIV below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this bear put spread structure on SDIV specifically: SDIV IV at 4.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a SDIV bear put spread, with a market-implied 1-standard-deviation move of approximately 1.38% (roughly $0.34 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SDIV expiries trade a higher absolute premium for lower per-day decay. Position sizing on SDIV should anchor to the underlying notional of $24.60 per share and to the trader's directional view on SDIV etf.

SDIV bear put spread setup

The SDIV bear put spread below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With SDIV at $24.60 on that close, the first option leg uses a $25.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SDIV chain at a 35-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 SDIV shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$25.00	$1.23
Sell 1	Put	$23.00	$0.14

SDIV bear put spread risk and reward

Net Premium / Debit: -$108.50
Max Profit (per contract): $91.50
Max Loss (per contract): -$108.50
Breakeven(s): $23.92
Risk / Reward Ratio: 0.843

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.

SDIV bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on SDIV. 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	-100.0%	+$91.50
$5.45	-77.9%	+$91.50
$10.89	-55.7%	+$91.50
$16.32	-33.6%	+$91.50
$21.76	-11.5%	+$91.50
$27.20	+10.6%	-$108.50
$32.64	+32.7%	-$108.50
$38.08	+54.8%	-$108.50
$43.51	+76.9%	-$108.50
$48.95	+99.0%	-$108.50

When traders use bear put spread on SDIV

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

SDIV thesis for this bear put spread

The market-implied 1-standard-deviation range for SDIV extends from approximately $24.26 on the downside to $24.94 on the upside. A SDIV bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on SDIV, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current SDIV IV rank near 0.77% 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 SDIV at 4.80%. As a Financial Services name, SDIV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SDIV-specific events.

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

Frequently asked questions

What is a bear put spread on SDIV?: A bear put spread on SDIV is the bear put spread strategy applied to SDIV (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 SDIV etf at $24.60 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed SDIV chain strike and the premiums come straight from that session's bid/ask midpoint.
How are SDIV 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 SDIV bear put spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 4.80%), the computed maximum profit is $91.50 per contract and the computed maximum loss is -$108.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a SDIV bear put spread?: The breakeven for the SDIV bear put spread priced on this page is roughly $23.92 at expiration, derived from the August 14, 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 SDIV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 1.38%; 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 SDIV?: Bear put spreads on SDIV reduce the cost of a bearish SDIV 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 SDIV implied volatility affect this bear put spread?: SDIV ATM IV is at 4.80% with IV rank near 0.77%, 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.