How are VOOV 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 VOOV bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 13.80%), the computed maximum profit is $758.50 per contract and the computed maximum loss is -$241.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a VOOV bear put spread?

The breakeven for the VOOV bear put spread priced on this page is roughly $212.59 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 VOOV market-implied 1-standard-deviation expected move is approximately 3.96%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

VOOV ATM IV is at 13.80% with IV rank near 1.31%, 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.

VOOV Bear Put Spread Strategy

VOOV (Vanguard S&P 500 Value ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

Invests in stocks in the S&P 500 Value Index, composed of the value companies in the S&P 500.Focuses on closely tracking the index’s return, which is considered a gauge of overall U.S. value stock returns.Offers high potential for investment growth; share value rises and falls more sharply than that of funds holding bonds.More appropriate for long-term goals where your money’s growth is essential.With respect to 75% of its total assets, the fund may not: (1) purchase more than 10% of the outstanding voting securities of any one issuer or (2) purchase securities of any issuer if, as a result, more than 5% of the fund’s total assets would be invested in that issuer’s securities; except as may be necessary to approximate the composition of its target index. This limitation does not apply to obligations of the U.S. government or its agencies or instrumentalities.

VOOV (Vanguard S&P 500 Value ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $6.54B, a beta of 0.83 versus the broader market, a 52-week range of 179.11-217.62, average daily share volume of 90K, a public-listing history dating back to 2010. These structural characteristics shape how VOOV etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.83 places VOOV roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. VOOV 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 VOOV?

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 VOOV snapshot

As of May 15, 2026, spot at $215.88, ATM IV 13.80%, IV rank 1.31%, expected move 3.96%. The bear put spread on VOOV 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 VOOV specifically: VOOV IV at 13.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a VOOV bear put spread, with a market-implied 1-standard-deviation move of approximately 3.96% (roughly $8.54 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 VOOV expiries trade a higher absolute premium for lower per-day decay. Position sizing on VOOV should anchor to the underlying notional of $215.88 per share and to the trader's directional view on VOOV etf.

VOOV bear put spread setup

The VOOV 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 VOOV near $215.88, the first option leg uses a $215.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VOOV 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 VOOV shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$215.00	$2.93
Sell 1	Put	$205.00	$0.51

VOOV bear put spread risk and reward

Net Premium / Debit: -$241.50
Max Profit (per contract): $758.50
Max Loss (per contract): -$241.50
Breakeven(s): $212.59
Risk / Reward Ratio: 3.141

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.

VOOV bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on VOOV. 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%	+$758.50
$47.74	-77.9%	+$758.50
$95.47	-55.8%	+$758.50
$143.20	-33.7%	+$758.50
$190.93	-11.6%	+$758.50
$238.67	+10.6%	-$241.50
$286.40	+32.7%	-$241.50
$334.13	+54.8%	-$241.50
$381.86	+76.9%	-$241.50
$429.59	+99.0%	-$241.50

When traders use bear put spread on VOOV

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

VOOV thesis for this bear put spread

The market-implied 1-standard-deviation range for VOOV extends from approximately $207.34 on the downside to $224.42 on the upside. A VOOV bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on VOOV, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current VOOV IV rank near 1.31% 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 VOOV at 13.80%. As a Financial Services name, VOOV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VOOV-specific events.

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

Frequently asked questions

What is a bear put spread on VOOV?: A bear put spread on VOOV is the bear put spread strategy applied to VOOV (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 VOOV etf trading near $215.88, the strikes shown on this page are snapped to the nearest listed VOOV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are VOOV 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 VOOV bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 13.80%), the computed maximum profit is $758.50 per contract and the computed maximum loss is -$241.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a VOOV bear put spread?: The breakeven for the VOOV bear put spread priced on this page is roughly $212.59 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 VOOV market-implied 1-standard-deviation expected move is approximately 3.96%; 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 VOOV?: Bear put spreads on VOOV reduce the cost of a bearish VOOV 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 VOOV implied volatility affect this bear put spread?: VOOV ATM IV is at 13.80% with IV rank near 1.31%, 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.