How are CHRW 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 CHRW bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 35.80%), the computed maximum profit is $615.00 per contract and the computed maximum loss is -$385.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a CHRW bear put spread?

The breakeven for the CHRW bear put spread priced on this page is roughly $161.15 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 CHRW market-implied 1-standard-deviation expected move is approximately 10.26%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

CHRW ATM IV is at 35.80% with IV rank near 43.11%, 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.

CHRW Bear Put Spread Strategy

CHRW (C.H. Robinson Worldwide, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NASDAQ.

C.H. Robinson Worldwide, Inc., together with its subsidiaries, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates in two segments, North American Surface Transportation and Global Forwarding. It offers transportation and logistics services, such as truckload; less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprise the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel ocean common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services. The company also offers customs broker services; and other logistics services, such as fee-based managed, warehousing, small parcel, and other services. It has contractual relationships with approximately 85,000 transportation companies, including motor carriers, railroads, and air and ocean carriers.

CHRW (C.H. Robinson Worldwide, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $19.24B, a trailing P/E of 32.65, a beta of 0.94 versus the broader market, a 52-week range of 92.36-203.34, average daily share volume of 2.0M, a public-listing history dating back to 1997, approximately 13K full-time employees. These structural characteristics shape how CHRW stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.94 places CHRW roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. CHRW 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 CHRW?

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 CHRW snapshot

As of May 15, 2026, spot at $164.19, ATM IV 35.80%, IV rank 43.11%, expected move 10.26%. The bear put spread on CHRW 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 CHRW specifically: CHRW IV at 35.80% 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 10.26% (roughly $16.85 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 CHRW expiries trade a higher absolute premium for lower per-day decay. Position sizing on CHRW should anchor to the underlying notional of $164.19 per share and to the trader's directional view on CHRW stock.

CHRW bear put spread setup

The CHRW 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 CHRW near $164.19, the first option leg uses a $165.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CHRW 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 CHRW shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$165.00	$7.65
Sell 1	Put	$155.00	$3.80

CHRW bear put spread risk and reward

Net Premium / Debit: -$385.00
Max Profit (per contract): $615.00
Max Loss (per contract): -$385.00
Breakeven(s): $161.15
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.

CHRW bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on CHRW. 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%	+$615.00
$36.31	-77.9%	+$615.00
$72.61	-55.8%	+$615.00
$108.92	-33.7%	+$615.00
$145.22	-11.6%	+$615.00
$181.52	+10.6%	-$385.00
$217.82	+32.7%	-$385.00
$254.13	+54.8%	-$385.00
$290.43	+76.9%	-$385.00
$326.73	+99.0%	-$385.00

When traders use bear put spread on CHRW

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

CHRW thesis for this bear put spread

The market-implied 1-standard-deviation range for CHRW extends from approximately $147.34 on the downside to $181.04 on the upside. A CHRW bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on CHRW, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current CHRW IV rank near 43.11% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on CHRW should anchor more to the directional view and the expected-move geometry. As a Industrials name, CHRW options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CHRW-specific events.

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

Frequently asked questions

What is a bear put spread on CHRW?: A bear put spread on CHRW is the bear put spread strategy applied to CHRW (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 CHRW stock trading near $164.19, the strikes shown on this page are snapped to the nearest listed CHRW chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are CHRW 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 CHRW bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 35.80%), the computed maximum profit is $615.00 per contract and the computed maximum loss is -$385.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a CHRW bear put spread?: The breakeven for the CHRW bear put spread priced on this page is roughly $161.15 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 CHRW market-implied 1-standard-deviation expected move is approximately 10.26%; 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 CHRW?: Bear put spreads on CHRW reduce the cost of a bearish CHRW 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 CHRW implied volatility affect this bear put spread?: CHRW ATM IV is at 35.80% with IV rank near 43.11%, 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.