HSDT Bear Put Spread Strategy
HSDT (Solana Company), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Solana Co. is a medical device firm specializing in neurotechnology, dedicated to improving neurological wellness. The company's strategy involves developing, licensing, and acquiring innovative, non-invasive platform technologies. These technologies are designed to enhance the brain's intrinsic capacity for self-healing and mitigate the effects of neurological diseases or trauma. A prime example of their work is the development of an investigational portable neuromodulation stimulator. This device uniquely delivers neurostimulation through the tongue. Clinical studies have indicated that this approach significantly enhances the efficacy of physical exercises for individuals experiencing neurological symptoms stemming from conditions like disease or trauma, including mild-to-moderate traumatic brain injury.
HSDT (Solana Company) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $101.0M, a beta of 1.03 versus the broader market, a 52-week range of 1.185-25.5, average daily share volume of 400K, a public-listing history dating back to 2014, approximately 21 full-time employees. These structural characteristics shape how HSDT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.03 places HSDT 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 HSDT?
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 HSDT snapshot
As of June 30, 2026, spot at $1.67, ATM IV 66.20%, IV rank 14.48%, expected move 18.98%. The bear put spread on HSDT 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 17-day expiry.
Why this bear put spread structure on HSDT specifically: HSDT IV at 66.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a HSDT bear put spread, with a market-implied 1-standard-deviation move of approximately 18.98% (roughly $0.32 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HSDT expiries trade a higher absolute premium for lower per-day decay. Position sizing on HSDT should anchor to the underlying notional of $1.67 per share and to the trader's directional view on HSDT stock.
HSDT bear put spread setup
The HSDT 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 HSDT near $1.67, the first option leg uses a $1.67 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HSDT chain at a 17-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 HSDT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $1.67 | N/A |
| Sell 1 | Put | $1.59 | N/A |
HSDT 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.
HSDT bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on HSDT. 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 HSDT
Bear put spreads on HSDT reduce the cost of a bearish HSDT stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
HSDT thesis for this bear put spread
The market-implied 1-standard-deviation range for HSDT extends from approximately $1.35 on the downside to $1.99 on the upside. A HSDT bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on HSDT, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current HSDT IV rank near 14.48% 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 HSDT at 66.20%. As a Healthcare name, HSDT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HSDT-specific events.
HSDT 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. HSDT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HSDT alongside the broader basket even when HSDT-specific fundamentals are unchanged. Long-premium structures like a bear put spread on HSDT 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 HSDT chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on HSDT?
- A bear put spread on HSDT is the bear put spread strategy applied to HSDT (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 HSDT stock trading near $1.67, the strikes shown on this page are snapped to the nearest listed HSDT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HSDT 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 HSDT bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 66.20%), 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 HSDT bear put spread?
- The breakeven for the HSDT 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 HSDT market-implied 1-standard-deviation expected move is approximately 18.98%; 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 HSDT?
- Bear put spreads on HSDT reduce the cost of a bearish HSDT 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 HSDT implied volatility affect this bear put spread?
- HSDT ATM IV is at 66.20% with IV rank near 14.48%, 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.