CMRC Bear Put Spread Strategy
CMRC (Commerce.com, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Commerce.com, Inc. operates a software-as-a-service e-commerce platform for brands and retailers in the United States, North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services, such as payments, shipping, and accounting. It serves stores in various sizes, product categories, and purchase types comprising business-to-consumer and business-to-business. Commerce.com, Inc. was formerly known as BigCommerce Holdings, Inc. and changed its name to Commerce.com, Inc. in July 2025. The company was founded in 2009 and is headquartered in Austin, Texas.
CMRC (Commerce.com, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $228.6M, a beta of 1.14 versus the broader market, a 52-week range of 2.41-5.545, average daily share volume of 867K, a public-listing history dating back to 2020, approximately 1K full-time employees. These structural characteristics shape how CMRC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.14 places CMRC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a bear put spread on CMRC?
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 CMRC snapshot
As of May 15, 2026, spot at $2.70, ATM IV 108.50%, IV rank 41.20%, expected move 31.11%. The bear put spread on CMRC 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 CMRC specifically: CMRC IV at 108.50% 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 31.11% (roughly $0.84 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 CMRC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CMRC should anchor to the underlying notional of $2.70 per share and to the trader's directional view on CMRC stock.
CMRC bear put spread setup
The CMRC 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 CMRC near $2.70, the first option leg uses a $2.70 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CMRC 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 CMRC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $2.70 | N/A |
| Sell 1 | Put | $2.57 | N/A |
CMRC 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.
CMRC bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on CMRC. 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 CMRC
Bear put spreads on CMRC reduce the cost of a bearish CMRC stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
CMRC thesis for this bear put spread
The market-implied 1-standard-deviation range for CMRC extends from approximately $1.86 on the downside to $3.54 on the upside. A CMRC bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on CMRC, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current CMRC IV rank near 41.20% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on CMRC should anchor more to the directional view and the expected-move geometry. As a Technology name, CMRC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CMRC-specific events.
CMRC 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. CMRC positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CMRC alongside the broader basket even when CMRC-specific fundamentals are unchanged. Long-premium structures like a bear put spread on CMRC 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 CMRC chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on CMRC?
- A bear put spread on CMRC is the bear put spread strategy applied to CMRC (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 CMRC stock trading near $2.70, the strikes shown on this page are snapped to the nearest listed CMRC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CMRC 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 CMRC bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 108.50%), 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 CMRC bear put spread?
- The breakeven for the CMRC 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 CMRC market-implied 1-standard-deviation expected move is approximately 31.11%; 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 CMRC?
- Bear put spreads on CMRC reduce the cost of a bearish CMRC 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 CMRC implied volatility affect this bear put spread?
- CMRC ATM IV is at 108.50% with IV rank near 41.20%, 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.