HUBG Bear Put Spread Strategy
HUBG (Hub Group, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NASDAQ.
Hub Group, Inc., a supply chain solutions provider, offers transportation and logistics management services in North America. It operates in two segments, Intermodal and Transportation Solutions (ITS), and Logistics. The ITS segment offers intermodal and dedicated trucking services, including freight transportation, truckload, less-than-truckload, flatbed, temperature-controlled, and dedicated and regional trucking services. The Logistics segment provides transportation management, freight brokerage, shipment optimization, load consolidation, mode selection, carrier management, load planning and execution, warehousing, fulfillment, cross-docking, and consolidation and final mile delivery services. It also provides trucking transportation services, including dry van, expedited, less-than-truckload, and refrigerated and flatbed services. As of December 31, 2024, the company operated a fleet of approximately 2,300 tractors, 3,200 employee drivers, 500 independent owner-operators, and 4,700 trailers; and owned approximately 50,000 dry and 53-foot containers, as well as 900 refrigerated 53-foot containers.
HUBG (Hub Group, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $2.65B, a trailing P/E of 25.02, a beta of 1.24 versus the broader market, a 52-week range of 32.46-53.26, average daily share volume of 727K, a public-listing history dating back to 1996, approximately 7K full-time employees. These structural characteristics shape how HUBG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.24 places HUBG roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HUBG 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 HUBG?
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 HUBG snapshot
As of June 30, 2026, spot at $43.70, ATM IV 38.50%, IV rank 17.71%, expected move 11.04%. The bear put spread on HUBG 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 HUBG specifically: HUBG IV at 38.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a HUBG bear put spread, with a market-implied 1-standard-deviation move of approximately 11.04% (roughly $4.82 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 HUBG expiries trade a higher absolute premium for lower per-day decay. Position sizing on HUBG should anchor to the underlying notional of $43.70 per share and to the trader's directional view on HUBG stock.
HUBG bear put spread setup
The HUBG 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 HUBG near $43.70, the first option leg uses a $43.70 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HUBG 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 HUBG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $43.70 | N/A |
| Sell 1 | Put | $41.52 | N/A |
HUBG 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.
HUBG bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on HUBG. 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 HUBG
Bear put spreads on HUBG reduce the cost of a bearish HUBG stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
HUBG thesis for this bear put spread
The market-implied 1-standard-deviation range for HUBG extends from approximately $38.88 on the downside to $48.52 on the upside. A HUBG bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on HUBG, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current HUBG IV rank near 17.71% 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 HUBG at 38.50%. As a Industrials name, HUBG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HUBG-specific events.
HUBG 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. HUBG positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HUBG alongside the broader basket even when HUBG-specific fundamentals are unchanged. Long-premium structures like a bear put spread on HUBG 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 HUBG chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on HUBG?
- A bear put spread on HUBG is the bear put spread strategy applied to HUBG (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 HUBG stock trading near $43.70, the strikes shown on this page are snapped to the nearest listed HUBG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HUBG 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 HUBG bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 38.50%), 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 HUBG bear put spread?
- The breakeven for the HUBG 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 HUBG market-implied 1-standard-deviation expected move is approximately 11.04%; 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 HUBG?
- Bear put spreads on HUBG reduce the cost of a bearish HUBG 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 HUBG implied volatility affect this bear put spread?
- HUBG ATM IV is at 38.50% with IV rank near 17.71%, 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.