How are SOXQ 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 SOXQ bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 48.20%), the computed maximum profit is $267.50 per contract and the computed maximum loss is -$132.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a SOXQ bear put spread?

The breakeven for the SOXQ bear put spread priced on this page is roughly $88.68 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 SOXQ market-implied 1-standard-deviation expected move is approximately 13.82%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

SOXQ ATM IV is at 48.20% with IV rank near 69.23%, 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.

SOXQ Bear Put Spread Strategy

SOXQ (Invesco PHLX Semiconductor ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.

The Invesco PHLX Semiconductor ETF (Fund) is based on the PHLX Semiconductor Sector Index (Index). The Fund will normally invest at least 90% of its total assets in the securities that comprise the Index. The Index is designed to measure the performance of the 30 largest U.S.-listed securities of companies engaged in the semiconductor business. Semiconductors include products such as memory chips, microprocessors, integrated circuits and related equipment that serve a wide variety of purposes in various types of electronics, including in personal household products, automobiles and computers, among others. The Index includes companies engaged in the design, distribution, manufacture and sale of semiconductors. The Fund and the Index are reconstituted annually in September and rebalanced quarterly in March, June, September and December.

SOXQ (Invesco PHLX Semiconductor ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $959.6M, a beta of 2.01 versus the broader market, a 52-week range of 36.635-95.298, average daily share volume of 1.2M, a public-listing history dating back to 2021. These structural characteristics shape how SOXQ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.01 indicates SOXQ has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. SOXQ 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 SOXQ?

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 SOXQ snapshot

As of May 15, 2026, spot at $91.82, ATM IV 48.20%, IV rank 69.23%, expected move 13.82%. The bear put spread on SOXQ 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 SOXQ specifically: SOXQ IV at 48.20% 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 13.82% (roughly $12.69 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 SOXQ expiries trade a higher absolute premium for lower per-day decay. Position sizing on SOXQ should anchor to the underlying notional of $91.82 per share and to the trader's directional view on SOXQ etf.

SOXQ bear put spread setup

The SOXQ 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 SOXQ near $91.82, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SOXQ 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 SOXQ shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$90.00	$4.00
Sell 1	Put	$86.00	$2.68

SOXQ bear put spread risk and reward

Net Premium / Debit: -$132.50
Max Profit (per contract): $267.50
Max Loss (per contract): -$132.50
Breakeven(s): $88.68
Risk / Reward Ratio: 2.019

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.

SOXQ bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on SOXQ. 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%	+$267.50
$20.31	-77.9%	+$267.50
$40.61	-55.8%	+$267.50
$60.91	-33.7%	+$267.50
$81.21	-11.6%	+$267.50
$101.51	+10.6%	-$132.50
$121.81	+32.7%	-$132.50
$142.12	+54.8%	-$132.50
$162.42	+76.9%	-$132.50
$182.72	+99.0%	-$132.50

When traders use bear put spread on SOXQ

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

SOXQ thesis for this bear put spread

The market-implied 1-standard-deviation range for SOXQ extends from approximately $79.13 on the downside to $104.51 on the upside. A SOXQ bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on SOXQ, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current SOXQ IV rank near 69.23% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on SOXQ should anchor more to the directional view and the expected-move geometry. As a Financial Services name, SOXQ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SOXQ-specific events.

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

Frequently asked questions

What is a bear put spread on SOXQ?: A bear put spread on SOXQ is the bear put spread strategy applied to SOXQ (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 SOXQ etf trading near $91.82, the strikes shown on this page are snapped to the nearest listed SOXQ chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are SOXQ 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 SOXQ bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 48.20%), the computed maximum profit is $267.50 per contract and the computed maximum loss is -$132.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a SOXQ bear put spread?: The breakeven for the SOXQ bear put spread priced on this page is roughly $88.68 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 SOXQ market-implied 1-standard-deviation expected move is approximately 13.82%; 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 SOXQ?: Bear put spreads on SOXQ reduce the cost of a bearish SOXQ 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 SOXQ implied volatility affect this bear put spread?: SOXQ ATM IV is at 48.20% with IV rank near 69.23%, 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.