ENLV Bear Put Spread Strategy
ENLV (Enlivex Therapeutics Ltd.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Enlivex Therapeutics Ltd., established in 2005 and based in Nes Ziona, Israel, operates as a clinical-stage biotechnology firm dedicated to macrophage reprogramming immunotherapy. The company is currently advancing Allocetra, its flagship cell-based therapeutic. This treatment is undergoing Phase II clinical evaluation for its effectiveness in addressing organ dysfunction and failure that arises from sepsis. Additionally, Allocetra is being investigated in preclinical studies for its potential application in solid tumor therapy.
ENLV (Enlivex Therapeutics Ltd.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $31.0M, a trailing P/E of 0.00, a beta of 1.47 versus the broader market, a 52-week range of 1.72-31.5, average daily share volume of 110K, a public-listing history dating back to 2014, approximately 34 full-time employees. These structural characteristics shape how ENLV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.47 indicates ENLV has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 0.00 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a bear put spread on ENLV?
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.
ENLV snapshot
As of August 14, 2026, spot at $1.75, ATM IV 298.90%, IV rank 60.22%, expected move 85.69%. The bear put spread on ENLV below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this bear put spread structure on ENLV specifically: ENLV IV at 298.90% 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 85.69% (roughly $1.50 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ENLV expiries trade a higher absolute premium for lower per-day decay. Position sizing on ENLV should anchor to the underlying notional of $1.75 per share and to the trader's directional view on ENLV stock.
ENLV bear put spread setup
The ENLV 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 ENLV at $1.75 on that close, the first option leg uses a $1.75 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ENLV chain at a 35-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 ENLV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $1.75 | N/A |
| Sell 1 | Put | $1.66 | N/A |
ENLV 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.
ENLV bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on ENLV. 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 ENLV
Bear put spreads on ENLV reduce the cost of a bearish ENLV stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
ENLV thesis for this bear put spread
The market-implied 1-standard-deviation range for ENLV extends from approximately $0.25 on the downside to $3.25 on the upside. A ENLV bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on ENLV, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current ENLV IV rank near 60.22% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on ENLV should anchor more to the directional view and the expected-move geometry. As a Healthcare name, ENLV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ENLV-specific events.
ENLV 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. ENLV positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ENLV alongside the broader basket even when ENLV-specific fundamentals are unchanged. Long-premium structures like a bear put spread on ENLV 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 ENLV chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on ENLV?
- A bear put spread on ENLV is the bear put spread strategy applied to ENLV (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 ENLV stock at $1.75 on the most recent close, the strikes shown on this page are snapped to the nearest listed ENLV chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ENLV 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 ENLV bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 298.90%), 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 ENLV bear put spread?
- The breakeven for the ENLV bear put spread priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 ENLV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 85.69%; 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 ENLV?
- Bear put spreads on ENLV reduce the cost of a bearish ENLV 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 ENLV implied volatility affect this bear put spread?
- ENLV ATM IV is at 298.90% with IV rank near 60.22%, 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.