How are COHU 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 COHU bear put spread priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 70.70%), the computed maximum profit is $250.00 per contract and the computed maximum loss is -$250.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a COHU bear put spread?

The breakeven for the COHU bear put spread priced on this page is roughly $62.50 at expiration, derived from the September 29, 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 COHU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 20.27%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

COHU ATM IV is at 70.70% with IV rank near 41.27%, 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.

COHU Bear Put Spread Strategy

COHU (Cohu, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.

Cohu, Inc. stands as a prominent global provider of advanced semiconductor test equipment and comprehensive associated services. Operating through its various subsidiaries, the company extends its reach across key international markets including China, the United States, Taiwan, Malaysia, and the Philippines. Its diverse product portfolio caters to semiconductor and electronics manufacturers, as well as test subcontractors, encompassing crucial equipment such as automated test equipment (ATE) for both wafer-level and device package testing, and a wide array of test and inspection handlers. These handlers include specialized pick-and-place, turret, gravity, strip, and advanced micro-electromechanical system (MEMS) and thermal sub-systems. Cohu also offers vital interface components like test contactors, probe heads, and pins. Beyond hardware, Cohu delivers extensive post-sales support, including spare parts and kits, robust parts and labor warranties for its systems and instruments, and essential training for system maintenance and operation.

COHU (Cohu, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $3.16B, a beta of 1.59 versus the broader market, a 52-week range of 18.67-74.6, average daily share volume of 1.3M, a public-listing history dating back to 1980, approximately 3K full-time employees. These structural characteristics shape how COHU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.59 indicates COHU 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 COHU?

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.

COHU snapshot

As of September 29, 2026, spot at $65.56, ATM IV 70.70%, IV rank 41.27%, expected move 20.27%. The bear put spread on COHU below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 52-day expiry.

Why this bear put spread structure on COHU specifically: COHU IV at 70.70% 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 20.27% (roughly $13.29 on the underlying). The 52-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated COHU expiries trade a higher absolute premium for lower per-day decay. Position sizing on COHU should anchor to the underlying notional of $65.56 per share and to the trader's directional view on COHU stock.

COHU bear put spread setup

The COHU bear put spread below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With COHU at $65.56 on that close, the first option leg uses a $65.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed COHU chain at a 52-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 COHU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$65.00	$7.40
Sell 1	Put	$60.00	$4.90

COHU bear put spread risk and reward

Net Premium / Debit: -$250.00
Max Profit (per contract): $250.00
Max Loss (per contract): -$250.00
Breakeven(s): $62.50
Risk / Reward Ratio: 1.000

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.

COHU bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on COHU. 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%	+$250.00
$14.50	-77.9%	+$250.00
$29.00	-55.8%	+$250.00
$43.49	-33.7%	+$250.00
$57.99	-11.5%	+$250.00
$72.48	+10.6%	-$250.00
$86.98	+32.7%	-$250.00
$101.47	+54.8%	-$250.00
$115.97	+76.9%	-$250.00
$130.46	+99.0%	-$250.00

When traders use bear put spread on COHU

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

COHU thesis for this bear put spread

The market-implied 1-standard-deviation range for COHU extends from approximately $52.27 on the downside to $78.85 on the upside. A COHU bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on COHU, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current COHU IV rank near 41.27% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on COHU should anchor more to the directional view and the expected-move geometry. As a Technology name, COHU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to COHU-specific events.

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

Frequently asked questions

What is a bear put spread on COHU?: A bear put spread on COHU is the bear put spread strategy applied to COHU (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 COHU stock at $65.56 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed COHU chain strike and the premiums come straight from that session's bid/ask midpoint.
How are COHU 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 COHU bear put spread priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 70.70%), the computed maximum profit is $250.00 per contract and the computed maximum loss is -$250.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a COHU bear put spread?: The breakeven for the COHU bear put spread priced on this page is roughly $62.50 at expiration, derived from the September 29, 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 COHU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 20.27%; 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 COHU?: Bear put spreads on COHU reduce the cost of a bearish COHU 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 COHU implied volatility affect this bear put spread?: COHU ATM IV is at 70.70% with IV rank near 41.27%, 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.