How are EOG 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 EOG bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 30.99%), the computed maximum profit is $432.50 per contract and the computed maximum loss is -$267.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a EOG bear put spread?

The breakeven for the EOG bear put spread priced on this page is roughly $137.33 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 EOG market-implied 1-standard-deviation expected move is approximately 8.88%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

EOG ATM IV is at 30.99% with IV rank near 52.83%, 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.

EOG Bear Put Spread Strategy

EOG (EOG Resources, Inc.), in the Energy sector, (Oil & Gas Exploration & Production industry), listed on NYSE.

EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves. The company was formerly known as Enron Oil & Gas Company. EOG Resources, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.

EOG (EOG Resources, Inc.) trades in the Energy sector, specifically Oil & Gas Exploration & Production, with a market capitalization of approximately $71.87B, a trailing P/E of 13.06, a beta of 0.28 versus the broader market, a 52-week range of 101.59-151.87, average daily share volume of 5.0M, a public-listing history dating back to 1989, approximately 3K full-time employees. These structural characteristics shape how EOG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.28 indicates EOG has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. EOG pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a bear put spread on EOG?

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 EOG snapshot

As of May 15, 2026, spot at $140.15, ATM IV 30.99%, IV rank 52.83%, expected move 8.88%. The bear put spread on EOG 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 28-day expiry.

Why this bear put spread structure on EOG specifically: EOG IV at 30.99% 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 8.88% (roughly $12.45 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EOG expiries trade a higher absolute premium for lower per-day decay. Position sizing on EOG should anchor to the underlying notional of $140.15 per share and to the trader's directional view on EOG stock.

EOG bear put spread setup

The EOG 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 EOG near $140.15, the first option leg uses a $140.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EOG chain at a 28-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 EOG shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$140.00	$4.65
Sell 1	Put	$133.00	$1.98

EOG bear put spread risk and reward

Net Premium / Debit: -$267.50
Max Profit (per contract): $432.50
Max Loss (per contract): -$267.50
Breakeven(s): $137.33
Risk / Reward Ratio: 1.617

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.

EOG bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on EOG. 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.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	+$432.50
$31.00	-77.9%	+$432.50
$61.98	-55.8%	+$432.50
$92.97	-33.7%	+$432.50
$123.96	-11.6%	+$432.50
$154.94	+10.6%	-$267.50
$185.93	+32.7%	-$267.50
$216.92	+54.8%	-$267.50
$247.90	+76.9%	-$267.50
$278.89	+99.0%	-$267.50

When traders use bear put spread on EOG

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

EOG thesis for this bear put spread

The market-implied 1-standard-deviation range for EOG extends from approximately $127.70 on the downside to $152.60 on the upside. A EOG bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on EOG, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current EOG IV rank near 52.83% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on EOG should anchor more to the directional view and the expected-move geometry. As a Energy name, EOG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EOG-specific events.

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

Frequently asked questions

What is a bear put spread on EOG?: A bear put spread on EOG is the bear put spread strategy applied to EOG (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 EOG stock trading near $140.15, the strikes shown on this page are snapped to the nearest listed EOG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are EOG 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 EOG bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 30.99%), the computed maximum profit is $432.50 per contract and the computed maximum loss is -$267.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a EOG bear put spread?: The breakeven for the EOG bear put spread priced on this page is roughly $137.33 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 EOG market-implied 1-standard-deviation expected move is approximately 8.88%; 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 EOG?: Bear put spreads on EOG reduce the cost of a bearish EOG 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 EOG implied volatility affect this bear put spread?: EOG ATM IV is at 30.99% with IV rank near 52.83%, 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.