How are AUGO 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 AUGO bear put spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 77.10%), the computed maximum profit is $307.50 per contract and the computed maximum loss is -$192.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AUGO bear put spread?

The breakeven for the AUGO bear put spread priced on this page is roughly $73.08 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 AUGO market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.10%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

AUGO ATM IV is at 77.10% with IV rank near 5.16%, 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.

AUGO Bear Put Spread Strategy

AUGO (Aura Minerals), in the Basic Materials sector, (Gold industry), listed on NASDAQ.

Aura Minerals Inc. is a company primarily engaged in the production of gold and copper, focusing its efforts on developing and managing various gold and other base metal mining ventures throughout the Americas. Its operational footprint spans several key segments, including the Minosa, Apoena, and Aranzazu Mines, alongside the Almas and Borborema Projects, complemented by its corporate division. The company's core exploration activities are directed towards identifying deposits rich in gold, copper, and silver. Founded in 1946, it initially operated under the name Aura Gold Inc. before officially rebranding to Aura Minerals Inc. in July 2007. Its principal office is situated in Coconut Grove, Florida.

AUGO (Aura Minerals) trades in the Basic Materials sector, specifically Gold, with a market capitalization of approximately $6.50B, a trailing P/E of 21.76, a beta of 0.30 versus the broader market, a 52-week range of 26-110.321, average daily share volume of 991K, a public-listing history dating back to 2025, approximately 1K full-time employees. These structural characteristics shape how AUGO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.30 indicates AUGO has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. AUGO 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 AUGO?

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.

AUGO snapshot

As of August 14, 2026, spot at $75.75, ATM IV 77.10%, IV rank 5.16%, expected move 22.10%. The bear put spread on AUGO 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 7-day expiry.

Why this bear put spread structure on AUGO specifically: AUGO IV at 77.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a AUGO bear put spread, with a market-implied 1-standard-deviation move of approximately 22.10% (roughly $16.74 on the underlying). The 7-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AUGO expiries trade a higher absolute premium for lower per-day decay. Position sizing on AUGO should anchor to the underlying notional of $75.75 per share and to the trader's directional view on AUGO stock.

AUGO bear put spread setup

The AUGO 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 AUGO at $75.75 on that close, the first option leg uses a $75.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AUGO chain at a 7-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 AUGO shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$75.00	$2.95
Sell 1	Put	$70.00	$1.03

AUGO bear put spread risk and reward

Net Premium / Debit: -$192.50
Max Profit (per contract): $307.50
Max Loss (per contract): -$192.50
Breakeven(s): $73.08
Risk / Reward Ratio: 1.597

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.

AUGO bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on AUGO. 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%	+$307.50
$16.76	-77.9%	+$307.50
$33.51	-55.8%	+$307.50
$50.25	-33.7%	+$307.50
$67.00	-11.6%	+$307.50
$83.75	+10.6%	-$192.50
$100.50	+32.7%	-$192.50
$117.24	+54.8%	-$192.50
$133.99	+76.9%	-$192.50
$150.74	+99.0%	-$192.50

When traders use bear put spread on AUGO

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

AUGO thesis for this bear put spread

The market-implied 1-standard-deviation range for AUGO extends from approximately $59.01 on the downside to $92.49 on the upside. A AUGO bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on AUGO, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current AUGO IV rank near 5.16% 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 AUGO at 77.10%. As a Basic Materials name, AUGO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AUGO-specific events.

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

Frequently asked questions

What is a bear put spread on AUGO?: A bear put spread on AUGO is the bear put spread strategy applied to AUGO (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 AUGO stock at $75.75 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed AUGO chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AUGO 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 AUGO bear put spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 77.10%), the computed maximum profit is $307.50 per contract and the computed maximum loss is -$192.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AUGO bear put spread?: The breakeven for the AUGO bear put spread priced on this page is roughly $73.08 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 AUGO market-implied 1-standard-deviation expected move in the same options snapshot is approximately 22.10%; 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 AUGO?: Bear put spreads on AUGO reduce the cost of a bearish AUGO 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 AUGO implied volatility affect this bear put spread?: AUGO ATM IV is at 77.10% with IV rank near 5.16%, 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.