TTMX Bear Put Spread Strategy

TTMX (Tradr 2X Long TTMI Daily ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.

TTMX uses swap agreements and listed call options to make bullish bets on the share price of TTM Technologies, Inc. (NASDAQ: TTMI). The fund may also invest directly in TTMI. The company engages in the manufacture and sale of printed circuit boards and backplane assemblies, operating through the Aerospace and Defense (A&D), Commercial, and Radio Frequency and Specialty (RF&S) Components segments. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in TTMI price through daily rebalancing. Returns may deviate from the expected 200% if held for longer than a single day due to factors such as volatility and compounding. The fund expects to invest in US Government securities, money market funds, short-term bond ETFs, and corporate debt as collateral.

TTMX (Tradr 2X Long TTMI Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $1.2M, a beta of 0.00 versus the broader market, a 52-week range of 6.48-23.52, average daily share volume of 39K, a public-listing history dating back to 2026. These structural characteristics shape how TTMX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.00 indicates TTMX has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.

What is a bear put spread on TTMX?

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.

TTMX snapshot

As of September 29, 2026, spot at $8.48, ATM IV 169.20%, expected move 48.51%. The bear put spread on TTMX 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 80-day expiry.

Why this bear put spread structure on TTMX specifically: IV rank is unavailable in the current snapshot, so regime-based timing for TTMX is inferred from ATM IV at 169.20% alone, with a market-implied 1-standard-deviation move of approximately 48.51% (roughly $4.11 on the underlying). The 80-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TTMX expiries trade a higher absolute premium for lower per-day decay. Position sizing on TTMX should anchor to the underlying notional of $8.48 per share and to the trader's directional view on TTMX etf.

TTMX bear put spread setup

The TTMX 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 TTMX at $8.48 on that close, the first option leg uses a $8.48 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TTMX chain at a 80-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 TTMX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$8.48	N/A
Sell 1	Put	$8.06	N/A

TTMX bear put spread risk and reward

Net Premium / Debit: N/A
Max Profit (per contract): Unbounded
Max Loss (per contract): Unbounded
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.

TTMX bear put spread payoff curve

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

When traders use bear put spread on TTMX

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

TTMX thesis for this bear put spread

The market-implied 1-standard-deviation range for TTMX extends from approximately $4.37 on the downside to $12.59 on the upside. A TTMX bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on TTMX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. As a Financial Services name, TTMX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TTMX-specific events.

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

Frequently asked questions

What is a bear put spread on TTMX?: A bear put spread on TTMX is the bear put spread strategy applied to TTMX (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 TTMX etf at $8.48 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed TTMX chain strike and the premiums come straight from that session's bid/ask midpoint.
How are TTMX 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 TTMX bear put spread priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 169.20%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a TTMX bear put spread?: The breakeven for the TTMX bear put spread priced on this page is no defined breakeven on the modeled curve 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 TTMX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 48.51%; 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 TTMX?: Bear put spreads on TTMX reduce the cost of a bearish TTMX 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 TTMX implied volatility affect this bear put spread?: Current TTMX ATM IV is 169.20%; IV rank context is unavailable in the current snapshot.