EVEX Bear Put Spread Strategy
EVEX (Eve Holding, Inc.), in the Industrials sector, (Aerospace & Defense industry), listed on NYSE.
Eve Holding, Inc. develops urban air mobility solutions. It is involved in the design and production of eVTOLs; provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems. The company is based in Melbourne, Florida.
EVEX (Eve Holding, Inc.) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $977.9M, a beta of 1.04 versus the broader market, a 52-week range of 2.34-7.699, average daily share volume of 1.3M, a public-listing history dating back to 2022, approximately 174 full-time employees. These structural characteristics shape how EVEX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.04 places EVEX 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 EVEX?
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 EVEX snapshot
As of May 15, 2026, spot at $3.01, ATM IV 104.70%, IV rank 27.67%, expected move 30.02%. The bear put spread on EVEX 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 EVEX specifically: EVEX IV at 104.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a EVEX bear put spread, with a market-implied 1-standard-deviation move of approximately 30.02% (roughly $0.90 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 EVEX expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVEX should anchor to the underlying notional of $3.01 per share and to the trader's directional view on EVEX stock.
EVEX bear put spread setup
The EVEX 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 EVEX near $3.01, the first option leg uses a $3.01 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVEX 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 EVEX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $3.01 | N/A |
| Sell 1 | Put | $2.86 | N/A |
EVEX 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.
EVEX bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on EVEX. 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 EVEX
Bear put spreads on EVEX reduce the cost of a bearish EVEX stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
EVEX thesis for this bear put spread
The market-implied 1-standard-deviation range for EVEX extends from approximately $2.11 on the downside to $3.91 on the upside. A EVEX bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on EVEX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current EVEX IV rank near 27.67% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on EVEX at 104.70%. As a Industrials name, EVEX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVEX-specific events.
EVEX 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. EVEX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVEX alongside the broader basket even when EVEX-specific fundamentals are unchanged. Long-premium structures like a bear put spread on EVEX 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 EVEX chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on EVEX?
- A bear put spread on EVEX is the bear put spread strategy applied to EVEX (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 EVEX stock trading near $3.01, the strikes shown on this page are snapped to the nearest listed EVEX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVEX 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 EVEX bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 104.70%), 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 EVEX bear put spread?
- The breakeven for the EVEX 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 EVEX market-implied 1-standard-deviation expected move is approximately 30.02%; 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 EVEX?
- Bear put spreads on EVEX reduce the cost of a bearish EVEX 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 EVEX implied volatility affect this bear put spread?
- EVEX ATM IV is at 104.70% with IV rank near 27.67%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.