How are UFOX 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 UFOX bear put spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 32.90%), the computed maximum profit is $297.00 per contract and the computed maximum loss is -$203.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a UFOX bear put spread?

The breakeven for the UFOX bear put spread priced on this page is roughly $85.97 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 UFOX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.43%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

UFOX ATM IV is at 32.90% with IV rank near 58.45%, 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.

UFOX Bear Put Spread Strategy

UFOX (Defiance Space and Connective Tech ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.

The U.S. Global GO GOLD and Precious Metal Miners ETF (UFOX) provides investors access to companies involved in the production of precious metals. The fund focuses on companies engaged in active mining or those holding royalty interests. It also maintains a strategic allocation to physical gold.

UFOX (Defiance Space and Connective Tech ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $755.4M, a beta of 1.58 versus the broader market, a 52-week range of 75.71-106.7199, average daily share volume of 44K, a public-listing history dating back to 2019. These structural characteristics shape how UFOX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.58 indicates UFOX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. UFOX 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 UFOX?

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.

UFOX snapshot

As of August 14, 2026, spot at $87.73, ATM IV 32.90%, IV rank 58.45%, expected move 9.43%. The bear put spread on UFOX 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 UFOX specifically: UFOX IV at 32.90% 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 9.43% (roughly $8.27 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 UFOX expiries trade a higher absolute premium for lower per-day decay. Position sizing on UFOX should anchor to the underlying notional of $87.73 per share and to the trader's directional view on UFOX etf.

UFOX bear put spread setup

The UFOX 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 UFOX at $87.73 on that close, the first option leg uses a $88.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UFOX 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 UFOX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$88.00	$3.85
Sell 1	Put	$83.00	$1.82

UFOX bear put spread risk and reward

Net Premium / Debit: -$203.00
Max Profit (per contract): $297.00
Max Loss (per contract): -$203.00
Breakeven(s): $85.97
Risk / Reward Ratio: 1.463

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.

UFOX bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on UFOX. 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%	+$297.00
$19.41	-77.9%	+$297.00
$38.80	-55.8%	+$297.00
$58.20	-33.7%	+$297.00
$77.60	-11.6%	+$297.00
$96.99	+10.6%	-$203.00
$116.39	+32.7%	-$203.00
$135.79	+54.8%	-$203.00
$155.18	+76.9%	-$203.00
$174.58	+99.0%	-$203.00

When traders use bear put spread on UFOX

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

UFOX thesis for this bear put spread

The market-implied 1-standard-deviation range for UFOX extends from approximately $79.46 on the downside to $96.00 on the upside. A UFOX bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on UFOX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current UFOX IV rank near 58.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on UFOX should anchor more to the directional view and the expected-move geometry. As a Financial Services name, UFOX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UFOX-specific events.

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

Frequently asked questions

What is a bear put spread on UFOX?: A bear put spread on UFOX is the bear put spread strategy applied to UFOX (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 UFOX etf at $87.73 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed UFOX chain strike and the premiums come straight from that session's bid/ask midpoint.
How are UFOX 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 UFOX bear put spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 32.90%), the computed maximum profit is $297.00 per contract and the computed maximum loss is -$203.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a UFOX bear put spread?: The breakeven for the UFOX bear put spread priced on this page is roughly $85.97 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 UFOX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.43%; 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 UFOX?: Bear put spreads on UFOX reduce the cost of a bearish UFOX 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 UFOX implied volatility affect this bear put spread?: UFOX ATM IV is at 32.90% with IV rank near 58.45%, 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.