CLPT Bear Put Spread Strategy
CLPT (ClearPoint Neuro, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
ClearPoint Neuro, Inc. is a medical technology firm primarily operating within the United States. The company specializes in developing and commercializing sophisticated systems that facilitate minimally invasive brain surgeries, guided by real-time magnetic resonance imaging (MRI) during the procedure. Among its core offerings is the ClearPoint system, designed for the precise placement of deep brain stimulation electrodes, biopsy needles, and for the controlled infusion of medications and laser catheters directly into the brain. It also provides the ClearPoint Neuro Navigation System, which is specifically engineered for MRI suite environments. ClearPoint Neuro maintains strategic partnerships and licensing agreements with prominent institutions and companies, including Boston Scientific Corporation, The Johns Hopkins University, Clinical Laserthermia Systems Americas Inc, Koninklijke Philips N.V., Blackrock Neurotech, and the University of California, San Francisco. Initially established in 1998 and headquartered in Solana Beach, California, the company operated as MRI Interventions, Inc. before rebranding to ClearPoint Neuro, Inc. in February 2020.
CLPT (ClearPoint Neuro, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $554.2M, a beta of 1.31 versus the broader market, a 52-week range of 8.27-30.1, average daily share volume of 701K, a public-listing history dating back to 2012, approximately 115 full-time employees. These structural characteristics shape how CLPT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.31 indicates CLPT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a bear put spread on CLPT?
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 CLPT snapshot
As of June 30, 2026, spot at $18.07, ATM IV 104.60%, IV rank 16.16%, expected move 29.99%. The bear put spread on CLPT 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 17-day expiry.
Why this bear put spread structure on CLPT specifically: CLPT IV at 104.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a CLPT bear put spread, with a market-implied 1-standard-deviation move of approximately 29.99% (roughly $5.42 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CLPT expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLPT should anchor to the underlying notional of $18.07 per share and to the trader's directional view on CLPT stock.
CLPT bear put spread setup
The CLPT 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 CLPT near $18.07, the first option leg uses a $18.07 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLPT chain at a 17-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 CLPT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $18.07 | N/A |
| Sell 1 | Put | $17.17 | N/A |
CLPT 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.
CLPT bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on CLPT. 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 CLPT
Bear put spreads on CLPT reduce the cost of a bearish CLPT stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
CLPT thesis for this bear put spread
The market-implied 1-standard-deviation range for CLPT extends from approximately $12.65 on the downside to $23.49 on the upside. A CLPT bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on CLPT, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current CLPT IV rank near 16.16% 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 CLPT at 104.60%. As a Healthcare name, CLPT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLPT-specific events.
CLPT 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. CLPT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CLPT alongside the broader basket even when CLPT-specific fundamentals are unchanged. Long-premium structures like a bear put spread on CLPT 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 CLPT chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on CLPT?
- A bear put spread on CLPT is the bear put spread strategy applied to CLPT (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 CLPT stock trading near $18.07, the strikes shown on this page are snapped to the nearest listed CLPT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CLPT 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 CLPT bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 104.60%), 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 CLPT bear put spread?
- The breakeven for the CLPT 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 CLPT market-implied 1-standard-deviation expected move is approximately 29.99%; 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 CLPT?
- Bear put spreads on CLPT reduce the cost of a bearish CLPT 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 CLPT implied volatility affect this bear put spread?
- CLPT ATM IV is at 104.60% with IV rank near 16.16%, 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.