BZAI Bear Put Spread Strategy
BZAI (Blaize Holdings Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Blaize Holdings, Inc. provides artificial intelligence (AI)-enabled edge computing solutions. Its portfolio includes programmable AI processors in a broad range of form factors, deployable across several verticals, including smart city, defense, retail and enterprise markets; and AI computing platforms that enable applications, such as computer vision, advanced video analytics, and AI inference, as well as software tools that allows non-expert practitioners to deploy AI applications on its hardware without the need to learn or use source code. The company also offers the GSP, an AI computing accelerator for computer vision, machine learning, and AI applications; compute cards, such as peripheral component interconnected express card and other cards; software development kit; Blaize AI Studio, a visual no-code or low-code environment intended to simplify the creation and deployment of AI models; and strategic consulting services. Blaize Holdings, Inc. was founded in 2010 and is headquartered in El Dorado Hills, California.
BZAI (Blaize Holdings Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $163.6M, a beta of 0.08 versus the broader market, a 52-week range of 0.739-6.76, average daily share volume of 7.3M, a public-listing history dating back to 2022, approximately 241 full-time employees. These structural characteristics shape how BZAI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.08 indicates BZAI 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 BZAI?
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.
BZAI snapshot
As of August 14, 2026, spot at $0.58, ATM IV 291.10%, IV rank 59.05%, expected move 83.46%. The bear put spread on BZAI below is built from the 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 BZAI specifically: BZAI IV at 291.10% 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 83.46% (roughly $0.48 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 BZAI expiries trade a higher absolute premium for lower per-day decay. Position sizing on BZAI should anchor to the underlying notional of $0.58 per share and to the trader's directional view on BZAI stock.
BZAI bear put spread setup
The BZAI 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 BZAI at $0.58 on that close, the first option leg uses a $0.58 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BZAI 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 BZAI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $0.58 | N/A |
| Sell 1 | Put | $0.55 | N/A |
BZAI 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.
BZAI bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on BZAI. 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 BZAI
Bear put spreads on BZAI reduce the cost of a bearish BZAI stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
BZAI thesis for this bear put spread
The market-implied 1-standard-deviation range for BZAI extends from approximately $0.10 on the downside to $1.06 on the upside. A BZAI bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on BZAI, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current BZAI IV rank near 59.05% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on BZAI should anchor more to the directional view and the expected-move geometry. As a Technology name, BZAI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BZAI-specific events.
BZAI 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. BZAI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BZAI alongside the broader basket even when BZAI-specific fundamentals are unchanged. Long-premium structures like a bear put spread on BZAI 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 BZAI chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on BZAI?
- A bear put spread on BZAI is the bear put spread strategy applied to BZAI (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 BZAI stock at $0.58 on the most recent close, the strikes shown on this page are snapped to the nearest listed BZAI chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are BZAI 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 BZAI bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 291.10%), 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 BZAI bear put spread?
- The breakeven for the BZAI bear put spread priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 BZAI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 83.46%; 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 BZAI?
- Bear put spreads on BZAI reduce the cost of a bearish BZAI 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 BZAI implied volatility affect this bear put spread?
- BZAI ATM IV is at 291.10% with IV rank near 59.05%, 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.