How are HST 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 HST bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 28.20%), the computed maximum profit is $67.50 per contract and the computed maximum loss is -$32.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a HST bear put spread?

The breakeven for the HST bear put spread priced on this page is roughly $20.53 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 HST market-implied 1-standard-deviation expected move is approximately 8.08%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

HST ATM IV is at 28.20% with IV rank near 35.17%, 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.

HST Bear Put Spread Strategy

HST (Host Hotels & Resorts, Inc.), in the Real Estate sector, (REIT - Hotel & Motel industry), listed on NASDAQ.

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 74 properties in the United States and five properties internationally totaling approximately 46,100 rooms. The Company also holds non-controlling interests in six domestic and one international joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis® and Novotel®, as well as independent brands. For additional information, please visit the Company's website at www.hosthotels.com.

HST (Host Hotels & Resorts, Inc.) trades in the Real Estate sector, specifically REIT - Hotel & Motel, with a market capitalization of approximately $14.77B, a trailing P/E of 14.77, a beta of 1.12 versus the broader market, a 52-week range of 14.46-22.39, average daily share volume of 9.0M, a public-listing history dating back to 1980, approximately 165 full-time employees. These structural characteristics shape how HST stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.12 places HST roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HST 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 HST?

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 HST snapshot

As of May 15, 2026, spot at $21.27, ATM IV 28.20%, IV rank 35.17%, expected move 8.08%. The bear put spread on HST 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 63-day expiry.

Why this bear put spread structure on HST specifically: HST IV at 28.20% 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 8.08% (roughly $1.72 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HST expiries trade a higher absolute premium for lower per-day decay. Position sizing on HST should anchor to the underlying notional of $21.27 per share and to the trader's directional view on HST stock.

HST bear put spread setup

The HST 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 HST near $21.27, the first option leg uses a $20.85 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HST chain at a 63-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 HST shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$20.85	$0.83
Sell 1	Put	$19.85	$0.50

HST bear put spread risk and reward

Net Premium / Debit: -$32.50
Max Profit (per contract): $67.50
Max Loss (per contract): -$32.50
Breakeven(s): $20.53
Risk / Reward Ratio: 2.077

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.

HST bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on HST. 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%	+$67.50
$4.71	-77.8%	+$67.50
$9.41	-55.7%	+$67.50
$14.12	-33.6%	+$67.50
$18.82	-11.5%	+$67.50
$23.52	+10.6%	-$32.50
$28.22	+32.7%	-$32.50
$32.92	+54.8%	-$32.50
$37.62	+76.9%	-$32.50
$42.33	+99.0%	-$32.50

When traders use bear put spread on HST

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

HST thesis for this bear put spread

The market-implied 1-standard-deviation range for HST extends from approximately $19.55 on the downside to $22.99 on the upside. A HST bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on HST, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current HST IV rank near 35.17% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on HST should anchor more to the directional view and the expected-move geometry. As a Real Estate name, HST options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HST-specific events.

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

Frequently asked questions

What is a bear put spread on HST?: A bear put spread on HST is the bear put spread strategy applied to HST (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 HST stock trading near $21.27, the strikes shown on this page are snapped to the nearest listed HST chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are HST 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 HST bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 28.20%), the computed maximum profit is $67.50 per contract and the computed maximum loss is -$32.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a HST bear put spread?: The breakeven for the HST bear put spread priced on this page is roughly $20.53 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 HST market-implied 1-standard-deviation expected move is approximately 8.08%; 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 HST?: Bear put spreads on HST reduce the cost of a bearish HST 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 HST implied volatility affect this bear put spread?: HST ATM IV is at 28.20% with IV rank near 35.17%, 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.