How are GXO 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 GXO bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 38.90%), the computed maximum profit is $155.00 per contract and the computed maximum loss is -$95.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a GXO bear put spread?

The breakeven for the GXO bear put spread priced on this page is roughly $46.55 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 GXO market-implied 1-standard-deviation expected move is approximately 11.15%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

GXO ATM IV is at 38.90% with IV rank near 23.07%, 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.

GXO Bear Put Spread Strategy

GXO (GXO Logistics, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NYSE.

GXO Logistics, Inc., together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities. The company serves various customers in the e-commerce, omnichannel retail, consumer technology, food and beverage, industrial and manufacturing, and consumer packaged goods industries. GXO Logistics, Inc. was incorporated in 2021 and is headquartered in Greenwich, Connecticut.

GXO (GXO Logistics, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $5.74B, a trailing P/E of 43.38, a beta of 1.68 versus the broader market, a 52-week range of 39.325-66.85, average daily share volume of 1.3M, a public-listing history dating back to 2021, approximately 150K full-time employees. These structural characteristics shape how GXO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.68 indicates GXO 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 43.38 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.

What is a bear put spread on GXO?

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 GXO snapshot

As of May 15, 2026, spot at $48.27, ATM IV 38.90%, IV rank 23.07%, expected move 11.15%. The bear put spread on GXO 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 GXO specifically: GXO IV at 38.90% is on the cheap side of its 1-year range, which favors premium-buying structures like a GXO bear put spread, with a market-implied 1-standard-deviation move of approximately 11.15% (roughly $5.38 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 GXO expiries trade a higher absolute premium for lower per-day decay. Position sizing on GXO should anchor to the underlying notional of $48.27 per share and to the trader's directional view on GXO stock.

GXO bear put spread setup

The GXO 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 GXO near $48.27, the first option leg uses a $47.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GXO 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 GXO shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$47.50	$1.85
Sell 1	Put	$45.00	$0.90

GXO bear put spread risk and reward

Net Premium / Debit: -$95.00
Max Profit (per contract): $155.00
Max Loss (per contract): -$95.00
Breakeven(s): $46.55
Risk / Reward Ratio: 1.632

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.

GXO bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on GXO. 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%	+$155.00
$10.68	-77.9%	+$155.00
$21.35	-55.8%	+$155.00
$32.02	-33.7%	+$155.00
$42.70	-11.5%	+$155.00
$53.37	+10.6%	-$95.00
$64.04	+32.7%	-$95.00
$74.71	+54.8%	-$95.00
$85.38	+76.9%	-$95.00
$96.05	+99.0%	-$95.00

When traders use bear put spread on GXO

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

GXO thesis for this bear put spread

The market-implied 1-standard-deviation range for GXO extends from approximately $42.89 on the downside to $53.65 on the upside. A GXO bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on GXO, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current GXO IV rank near 23.07% 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 GXO at 38.90%. As a Industrials name, GXO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GXO-specific events.

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

Frequently asked questions

What is a bear put spread on GXO?: A bear put spread on GXO is the bear put spread strategy applied to GXO (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 GXO stock trading near $48.27, the strikes shown on this page are snapped to the nearest listed GXO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are GXO 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 GXO bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 38.90%), the computed maximum profit is $155.00 per contract and the computed maximum loss is -$95.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GXO bear put spread?: The breakeven for the GXO bear put spread priced on this page is roughly $46.55 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 GXO market-implied 1-standard-deviation expected move is approximately 11.15%; 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 GXO?: Bear put spreads on GXO reduce the cost of a bearish GXO 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 GXO implied volatility affect this bear put spread?: GXO ATM IV is at 38.90% with IV rank near 23.07%, 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.