EVR Bear Put Spread Strategy
EVR (Evercore Inc.), in the Financial Services sector, (Financial - Capital Markets industry), listed on NYSE.
Evercore Inc., together with its subsidiaries, operates as an independent investment banking advisory firm in the United States, Europe, Latin America, and internationally. It operates through two segments, Investment Banking and Investment Management. The Investment Banking segment offers strategic advisory services, such as mergers and acquisitions, strategic, defense, and shareholder advisory, special committee assignments, and transaction structuring; Capital Markets Advisory, including equity capital markets, restructuring, debt advisory, private placement advisory, market risk management and hedging, private capital advisory, and private funds; and research, sales, and trading professionals services on a content-led platform to its institutional investor clients. The Investment Management segment provides wealth management services to high-net-worth individuals, foundations, and endowments; and manages financial assets for institutional investors. The company was formerly known as Evercore Partners Inc. and changed its name to Evercore Inc. in August 2017. Evercore Inc. was founded in 1995 and is headquartered in New York, New York.
EVR (Evercore Inc.) trades in the Financial Services sector, specifically Financial - Capital Markets, with a market capitalization of approximately $13.32B, a trailing P/E of 17.55, a beta of 1.49 versus the broader market, a 52-week range of 217.19-388.71, average daily share volume of 651K, a public-listing history dating back to 2006, approximately 2K full-time employees. These structural characteristics shape how EVR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.49 indicates EVR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. EVR 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 EVR?
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 EVR snapshot
As of May 15, 2026, spot at $335.03, ATM IV 37.80%, IV rank 39.45%, expected move 10.84%. The bear put spread on EVR 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 EVR specifically: EVR IV at 37.80% 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 10.84% (roughly $36.31 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 EVR expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVR should anchor to the underlying notional of $335.03 per share and to the trader's directional view on EVR stock.
EVR bear put spread setup
The EVR 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 EVR near $335.03, the first option leg uses a $340.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVR 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 EVR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $340.00 | $18.05 |
| Sell 1 | Put | $320.00 | $9.75 |
EVR bear put spread risk and reward
- Net Premium / Debit
- -$830.00
- Max Profit (per contract)
- $1,170.00
- Max Loss (per contract)
- -$830.00
- Breakeven(s)
- $331.70
- Risk / Reward Ratio
- 1.410
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.
EVR bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on EVR. 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% | +$1,170.00 |
| $74.09 | -77.9% | +$1,170.00 |
| $148.16 | -55.8% | +$1,170.00 |
| $222.24 | -33.7% | +$1,170.00 |
| $296.31 | -11.6% | +$1,170.00 |
| $370.39 | +10.6% | -$830.00 |
| $444.47 | +32.7% | -$830.00 |
| $518.54 | +54.8% | -$830.00 |
| $592.62 | +76.9% | -$830.00 |
| $666.69 | +99.0% | -$830.00 |
When traders use bear put spread on EVR
Bear put spreads on EVR reduce the cost of a bearish EVR stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
EVR thesis for this bear put spread
The market-implied 1-standard-deviation range for EVR extends from approximately $298.72 on the downside to $371.34 on the upside. A EVR bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on EVR, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current EVR IV rank near 39.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on EVR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, EVR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVR-specific events.
EVR 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. EVR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVR alongside the broader basket even when EVR-specific fundamentals are unchanged. Long-premium structures like a bear put spread on EVR 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 EVR chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on EVR?
- A bear put spread on EVR is the bear put spread strategy applied to EVR (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 EVR stock trading near $335.03, the strikes shown on this page are snapped to the nearest listed EVR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVR 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 EVR bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 37.80%), the computed maximum profit is $1,170.00 per contract and the computed maximum loss is -$830.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a EVR bear put spread?
- The breakeven for the EVR bear put spread priced on this page is roughly $331.70 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 EVR market-implied 1-standard-deviation expected move is approximately 10.84%; 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 EVR?
- Bear put spreads on EVR reduce the cost of a bearish EVR 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 EVR implied volatility affect this bear put spread?
- EVR ATM IV is at 37.80% with IV rank near 39.45%, 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.