How are HUBS 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 HUBS bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 67.10%), the computed maximum profit is $495.00 per contract and the computed maximum loss is -$505.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a HUBS bear put spread?

The breakeven for the HUBS bear put spread priced on this page is roughly $194.95 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 HUBS market-implied 1-standard-deviation expected move is approximately 19.24%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

HUBS ATM IV is at 67.10% with IV rank near 33.14%, 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.

HUBS Bear Put Spread Strategy

HUBS (HubSpot, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.

HubSpot, Inc. provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes marketing, sales, service, and content management systems, as well as integrated applications, such as search engine optimization, blogging, website content management, messaging, chatbots, social media, marketing automation, email, predictive lead scoring, sales productivity, knowledge base, commerce, conversation routing, video hosting, ticketing and helpdesk tools, customer NPS surveys, analytics, and reporting. It also offers professional services to educate and train customers on how to leverage its CRM platform, as well as phone and/or email and chat-based support services. The company serves mid-market business-to-business companies. HubSpot, Inc. was incorporated in 2005 and is headquartered in Cambridge, Massachusetts.

HUBS (HubSpot, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $9.17B, a trailing P/E of 93.72, a beta of 1.23 versus the broader market, a 52-week range of 173.25-669.46, average daily share volume of 1.7M, a public-listing history dating back to 2014, approximately 9K full-time employees. These structural characteristics shape how HUBS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.23 places HUBS roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 93.72 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 HUBS?

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 HUBS snapshot

As of May 15, 2026, spot at $197.70, ATM IV 67.10%, IV rank 33.14%, expected move 19.24%. The bear put spread on HUBS 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 HUBS specifically: HUBS IV at 67.10% 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 19.24% (roughly $38.03 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 HUBS expiries trade a higher absolute premium for lower per-day decay. Position sizing on HUBS should anchor to the underlying notional of $197.70 per share and to the trader's directional view on HUBS stock.

HUBS bear put spread setup

The HUBS 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 HUBS near $197.70, the first option leg uses a $200.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HUBS 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 HUBS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$200.00	$16.90
Sell 1	Put	$190.00	$11.85

HUBS bear put spread risk and reward

Net Premium / Debit: -$505.00
Max Profit (per contract): $495.00
Max Loss (per contract): -$505.00
Breakeven(s): $194.95
Risk / Reward Ratio: 0.980

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.

HUBS bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on HUBS. 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%	+$495.00
$43.72	-77.9%	+$495.00
$87.43	-55.8%	+$495.00
$131.14	-33.7%	+$495.00
$174.86	-11.6%	+$495.00
$218.57	+10.6%	-$505.00
$262.28	+32.7%	-$505.00
$305.99	+54.8%	-$505.00
$349.70	+76.9%	-$505.00
$393.41	+99.0%	-$505.00

When traders use bear put spread on HUBS

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

HUBS thesis for this bear put spread

The market-implied 1-standard-deviation range for HUBS extends from approximately $159.67 on the downside to $235.73 on the upside. A HUBS bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on HUBS, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current HUBS IV rank near 33.14% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on HUBS should anchor more to the directional view and the expected-move geometry. As a Technology name, HUBS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HUBS-specific events.

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

Frequently asked questions

What is a bear put spread on HUBS?: A bear put spread on HUBS is the bear put spread strategy applied to HUBS (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 HUBS stock trading near $197.70, the strikes shown on this page are snapped to the nearest listed HUBS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are HUBS 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 HUBS bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 67.10%), the computed maximum profit is $495.00 per contract and the computed maximum loss is -$505.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a HUBS bear put spread?: The breakeven for the HUBS bear put spread priced on this page is roughly $194.95 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 HUBS market-implied 1-standard-deviation expected move is approximately 19.24%; 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 HUBS?: Bear put spreads on HUBS reduce the cost of a bearish HUBS 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 HUBS implied volatility affect this bear put spread?: HUBS ATM IV is at 67.10% with IV rank near 33.14%, 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.