GENI Bear Put Spread Strategy
GENI (Genius Sports Limited), in the Communication Services sector, (Internet Content & Information industry), listed on NYSE.
Genius Sports Limited develops and sells technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services. The company also provides live sports data collection; pre-game and in-game odds feeds; risk management services, including customer profiling, monitoring of incoming bets, automated acceptance and rejection of bets, and limit setting; live streaming services; creation, delivery, and measurement services for personalized online marketing campaigns; and fan engagement widgets for digital publishers that offer live game statistics and betting-related content. The company is headquartered in London, the United Kingdom.
GENI (Genius Sports Limited) trades in the Communication Services sector, specifically Internet Content & Information, with a market capitalization of approximately $1.08B, a beta of 1.80 versus the broader market, a 52-week range of 3.825-13.73, average daily share volume of 5.8M, a public-listing history dating back to 2020, approximately 2K full-time employees. These structural characteristics shape how GENI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.80 indicates GENI 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 GENI?
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 GENI snapshot
As of May 15, 2026, spot at $4.26, ATM IV 75.90%, IV rank 30.12%, expected move 21.76%. The bear put spread on GENI 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 GENI specifically: GENI IV at 75.90% 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 21.76% (roughly $0.93 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 GENI expiries trade a higher absolute premium for lower per-day decay. Position sizing on GENI should anchor to the underlying notional of $4.26 per share and to the trader's directional view on GENI stock.
GENI bear put spread setup
The GENI 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 GENI near $4.26, the first option leg uses a $4.26 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GENI 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 GENI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $4.26 | N/A |
| Sell 1 | Put | $4.05 | N/A |
GENI 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.
GENI bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on GENI. 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 GENI
Bear put spreads on GENI reduce the cost of a bearish GENI stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
GENI thesis for this bear put spread
The market-implied 1-standard-deviation range for GENI extends from approximately $3.33 on the downside to $5.19 on the upside. A GENI bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on GENI, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current GENI IV rank near 30.12% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on GENI should anchor more to the directional view and the expected-move geometry. As a Communication Services name, GENI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GENI-specific events.
GENI 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. GENI positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GENI alongside the broader basket even when GENI-specific fundamentals are unchanged. Long-premium structures like a bear put spread on GENI 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 GENI chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on GENI?
- A bear put spread on GENI is the bear put spread strategy applied to GENI (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 GENI stock trading near $4.26, the strikes shown on this page are snapped to the nearest listed GENI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GENI 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 GENI bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 75.90%), 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 GENI bear put spread?
- The breakeven for the GENI 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 GENI market-implied 1-standard-deviation expected move is approximately 21.76%; 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 GENI?
- Bear put spreads on GENI reduce the cost of a bearish GENI 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 GENI implied volatility affect this bear put spread?
- GENI ATM IV is at 75.90% with IV rank near 30.12%, 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.