DTIL Bear Put Spread Strategy
DTIL (Precision BioSciences, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Precision BioSciences, Inc., a clinical stage gene editing company, develops in vivo gene editing and ex vivo allogeneic CAR T therapies in the United States. It offers ARCUS, a genome editing platform to cure genetic disorders. The company also provides Ex vivo Allogeneic CAR T Immunotherapy, a form of immunotherapy in which T cell, a specific type of immune cell is genetically engineered to recognize and kill cancer cells; PBCAR0191, which is in Phase 1/2a clinical trial in adult patients with R/R NHL or R/R B-cell precursor acute lymphoblastic leukemia, or B-ALL; PBCAR19B, an anti-CD19 CAR T candidate built on the stealth cell platform utilizing a single-step gene edit to minimize the risk of chromosome abnormalities; and PBCAR269A, an investigational allogeneic CAR T immunotherapy targeting BCMA for the treatment of R/R multiple myeloma. The company has development and commercial license agreement with Les Laboratoires Servier to develop allogeneic chimeric antigen receptor T cell therapies for antigen targets, hematological cancer targets beyond CD19, and solid tumor targets; Tiziana Life Sciences to evaluate foralumab, a fully human anti-CD3 monoclonal antibody as a lymphodepleting agent for the potential treatment of cancers; and iECURE, Inc. to develop ARCUS-based gene editing therapies. Precision BioSciences, Inc. was incorporated in 2006 and is headquartered in Durham, North Carolina.
DTIL (Precision BioSciences, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $107.0M, a beta of 1.31 versus the broader market, a 52-week range of 3.53-8.82, average daily share volume of 265K, a public-listing history dating back to 2019, approximately 108 full-time employees. These structural characteristics shape how DTIL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.31 indicates DTIL 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 DTIL?
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 DTIL snapshot
As of May 15, 2026, spot at $7.38, ATM IV 277.00%, IV rank 55.61%, expected move 79.41%. The bear put spread on DTIL 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 DTIL specifically: DTIL IV at 277.00% 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 79.41% (roughly $5.86 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 DTIL expiries trade a higher absolute premium for lower per-day decay. Position sizing on DTIL should anchor to the underlying notional of $7.38 per share and to the trader's directional view on DTIL stock.
DTIL bear put spread setup
The DTIL 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 DTIL near $7.38, the first option leg uses a $7.38 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DTIL 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 DTIL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $7.38 | N/A |
| Sell 1 | Put | $7.01 | N/A |
DTIL 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.
DTIL bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on DTIL. 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 DTIL
Bear put spreads on DTIL reduce the cost of a bearish DTIL stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
DTIL thesis for this bear put spread
The market-implied 1-standard-deviation range for DTIL extends from approximately $1.52 on the downside to $13.24 on the upside. A DTIL bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on DTIL, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current DTIL IV rank near 55.61% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on DTIL should anchor more to the directional view and the expected-move geometry. As a Healthcare name, DTIL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DTIL-specific events.
DTIL 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. DTIL positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DTIL alongside the broader basket even when DTIL-specific fundamentals are unchanged. Long-premium structures like a bear put spread on DTIL 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 DTIL chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on DTIL?
- A bear put spread on DTIL is the bear put spread strategy applied to DTIL (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 DTIL stock trading near $7.38, the strikes shown on this page are snapped to the nearest listed DTIL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DTIL 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 DTIL bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 277.00%), 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 DTIL bear put spread?
- The breakeven for the DTIL 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 DTIL market-implied 1-standard-deviation expected move is approximately 79.41%; 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 DTIL?
- Bear put spreads on DTIL reduce the cost of a bearish DTIL 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 DTIL implied volatility affect this bear put spread?
- DTIL ATM IV is at 277.00% with IV rank near 55.61%, 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.