VICE Bear Put Spread Strategy
VICE (AdvisorShares Vice ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The AdvisorShares Vice ETF operates as an actively managed exchange-traded fund, aiming to achieve its investment objectives by primarily focusing on specific industries. Under typical market circumstances, the fund dedicates at least 80% of its net assets to businesses that derive over half of their net revenue from: (i) the production or sale of tobacco and alcoholic beverages, (ii) the wider food and beverage sector, or (iii) gambling and gaming activities. Its portfolio predominantly consists of equity securities traded on U.S. exchanges, including common and preferred shares, as well as American Depositary Receipts (ADRs).
VICE (AdvisorShares Vice ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $7.1M, a beta of 0.88 versus the broader market, a 52-week range of 31.08-36.53, average daily share volume of 0K, a public-listing history dating back to 2017. These structural characteristics shape how VICE etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.88 places VICE roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. VICE 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 VICE?
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.
VICE snapshot
As of August 14, 2026, spot at $32.78, ATM IV 111.40%, IV rank 39.39%, expected move 1.72%. The bear put spread on VICE 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 VICE specifically: VICE IV at 111.40% 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 1.72% (roughly $0.56 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 VICE expiries trade a higher absolute premium for lower per-day decay. Position sizing on VICE should anchor to the underlying notional of $32.78 per share and to the trader's directional view on VICE etf.
VICE bear put spread setup
The VICE 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 VICE at $32.78 on that close, the first option leg uses a $32.78 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VICE 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 VICE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $32.78 | N/A |
| Sell 1 | Put | $31.14 | N/A |
VICE 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.
VICE bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on VICE. 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 VICE
Bear put spreads on VICE reduce the cost of a bearish VICE etf position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
VICE thesis for this bear put spread
The market-implied 1-standard-deviation range for VICE extends from approximately $32.22 on the downside to $33.34 on the upside. A VICE bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on VICE, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current VICE IV rank near 39.39% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on VICE should anchor more to the directional view and the expected-move geometry. As a Financial Services name, VICE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VICE-specific events.
VICE 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. VICE positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move VICE alongside the broader basket even when VICE-specific fundamentals are unchanged. Long-premium structures like a bear put spread on VICE 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 VICE chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on VICE?
- A bear put spread on VICE is the bear put spread strategy applied to VICE (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 VICE etf at $32.78 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed VICE chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are VICE 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 VICE bear put spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 111.40%), 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 VICE bear put spread?
- The breakeven for the VICE bear put spread priced on this page is no defined breakeven on the modeled curve 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 VICE market-implied 1-standard-deviation expected move in the same options snapshot is approximately 1.72%; 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 VICE?
- Bear put spreads on VICE reduce the cost of a bearish VICE 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 VICE implied volatility affect this bear put spread?
- VICE ATM IV is at 111.40% with IV rank near 39.39%, 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.