How are ACM 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 ACM bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 38.10%), the computed maximum profit is $122.50 per contract and the computed maximum loss is -$127.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ACM bear put spread?

The breakeven for the ACM bear put spread priced on this page is roughly $71.23 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 ACM market-implied 1-standard-deviation expected move is approximately 10.92%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

ACM ATM IV is at 38.10% with IV rank near 28.88%, 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.

ACM Bear Put Spread Strategy

ACM (Aecom), in the Industrials sector, (Engineering & Construction industry), listed on NYSE.

AECOM, together with its subsidiaries, provides professional infrastructure consulting services for governments, businesses, and organizations in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through three segments: Americas, International, and AECOM Capital. The company offers planning, consulting, architectural and engineering design, construction and program management, and investment and development services to commercial and government clients. It also invests in and develops real estate projects. In addition, the company provides construction services, including building construction and energy, and infrastructure and industrial construction. It serves transportation, water, government, facilities, environmental, and energy sectors.

ACM (Aecom) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $9.12B, a trailing P/E of 17.95, a beta of 1.00 versus the broader market, a 52-week range of 67.64-135.52, average daily share volume of 1.3M, a public-listing history dating back to 2007, approximately 51K full-time employees. These structural characteristics shape how ACM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.00 places ACM roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. ACM 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 ACM?

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 ACM snapshot

As of May 15, 2026, spot at $71.28, ATM IV 38.10%, IV rank 28.88%, expected move 10.92%. The bear put spread on ACM 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 ACM specifically: ACM IV at 38.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a ACM bear put spread, with a market-implied 1-standard-deviation move of approximately 10.92% (roughly $7.79 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 ACM expiries trade a higher absolute premium for lower per-day decay. Position sizing on ACM should anchor to the underlying notional of $71.28 per share and to the trader's directional view on ACM stock.

ACM bear put spread setup

The ACM 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 ACM near $71.28, the first option leg uses a $72.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ACM 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 ACM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$72.50	$3.90
Sell 1	Put	$70.00	$2.63

ACM bear put spread risk and reward

Net Premium / Debit: -$127.50
Max Profit (per contract): $122.50
Max Loss (per contract): -$127.50
Breakeven(s): $71.23
Risk / Reward Ratio: 0.961

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.

ACM bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on ACM. 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%	+$122.50
$15.77	-77.9%	+$122.50
$31.53	-55.8%	+$122.50
$47.29	-33.7%	+$122.50
$63.05	-11.5%	+$122.50
$78.81	+10.6%	-$127.50
$94.57	+32.7%	-$127.50
$110.33	+54.8%	-$127.50
$126.08	+76.9%	-$127.50
$141.84	+99.0%	-$127.50

When traders use bear put spread on ACM

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

ACM thesis for this bear put spread

The market-implied 1-standard-deviation range for ACM extends from approximately $63.49 on the downside to $79.07 on the upside. A ACM bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on ACM, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current ACM IV rank near 28.88% 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 ACM at 38.10%. As a Industrials name, ACM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ACM-specific events.

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

Frequently asked questions

What is a bear put spread on ACM?: A bear put spread on ACM is the bear put spread strategy applied to ACM (stock). 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 ACM stock trading near $71.28, the strikes shown on this page are snapped to the nearest listed ACM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ACM 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 ACM bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 38.10%), the computed maximum profit is $122.50 per contract and the computed maximum loss is -$127.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ACM bear put spread?: The breakeven for the ACM bear put spread priced on this page is roughly $71.23 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 ACM market-implied 1-standard-deviation expected move is approximately 10.92%; 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 ACM?: Bear put spreads on ACM reduce the cost of a bearish ACM stock 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 ACM implied volatility affect this bear put spread?: ACM ATM IV is at 38.10% with IV rank near 28.88%, 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.