AMPY Bear Put Spread Strategy
AMPY (Amplify Energy Corp.), in the Energy sector, (Oil & Gas Exploration & Production industry), listed on NYSE.
Amplify Energy Corp. is a U.S.-based enterprise focused on the upstream oil and natural gas sector, encompassing the acquisition, development, and production of hydrocarbon assets. Its extensive portfolio includes operated and non-operated working interests in both producing and undeveloped leasehold acreage, as well as stakes in identified producing wells. These assets are geographically dispersed throughout key American regions such as Oklahoma, the Rocky Mountains, federal offshore Southern California, East Texas/North Louisiana, and the Eagle Ford shale play. As of December 31, 2021, the company reported approximately 121.2 million barrels of oil equivalent (BOE) in estimated proved reserves and managed 2,417 gross producing wells. Amplify Energy's corporate headquarters are situated in Houston, Texas.
AMPY (Amplify Energy Corp.) trades in the Energy sector, specifically Oil & Gas Exploration & Production, with a market capitalization of approximately $162.7M, a trailing P/E of 13.84, a beta of -0.22 versus the broader market, a 52-week range of 3.11-6.79, average daily share volume of 783K, a public-listing history dating back to 2012, approximately 229 full-time employees. These structural characteristics shape how AMPY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.22 indicates AMPY 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 AMPY?
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 AMPY snapshot
As of June 29, 2026, spot at $4.04, ATM IV 491.00%, IV rank 98.43%, expected move 140.77%. The bear put spread on AMPY 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 18-day expiry.
Why this bear put spread structure on AMPY specifically: AMPY IV at 491.00% is rich versus its 1-year range, which makes a premium-buying AMPY bear put spread relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 140.77% (roughly $5.69 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMPY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMPY should anchor to the underlying notional of $4.04 per share and to the trader's directional view on AMPY stock.
AMPY bear put spread setup
The AMPY 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 AMPY near $4.04, the first option leg uses a $4.04 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMPY chain at a 18-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 AMPY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $4.04 | N/A |
| Sell 1 | Put | $3.84 | N/A |
AMPY 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.
AMPY bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on AMPY. 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 AMPY
Bear put spreads on AMPY reduce the cost of a bearish AMPY stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
AMPY thesis for this bear put spread
The market-implied 1-standard-deviation range for AMPY extends from approximately $-1.65 on the downside to $9.73 on the upside. A AMPY bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on AMPY, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current AMPY IV rank near 98.43% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on AMPY at 491.00%. As a Energy name, AMPY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMPY-specific events.
AMPY 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. AMPY positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMPY alongside the broader basket even when AMPY-specific fundamentals are unchanged. Long-premium structures like a bear put spread on AMPY 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 AMPY chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on AMPY?
- A bear put spread on AMPY is the bear put spread strategy applied to AMPY (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 AMPY stock trading near $4.04, the strikes shown on this page are snapped to the nearest listed AMPY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AMPY 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 AMPY bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 491.00%), 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 AMPY bear put spread?
- The breakeven for the AMPY bear put spread priced on this page is no defined breakeven on the modeled curve 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 AMPY market-implied 1-standard-deviation expected move is approximately 140.77%; 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 AMPY?
- Bear put spreads on AMPY reduce the cost of a bearish AMPY 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 AMPY implied volatility affect this bear put spread?
- AMPY ATM IV is at 491.00% with IV rank near 98.43%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.