IMMR Bear Put Spread Strategy
IMMR (Immersion Corporation), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Immersion Corporation, through its affiliated entities, specializes in the innovation, development, and licensing of haptic technologies. These advancements enable individuals to engage with and perceive digital products via their sense of touch across markets in North America, Europe, and Asia. The company's commercial portfolio includes technology, patent, and bundled licensing agreements. Furthermore, Immersion provides comprehensive Software Development Kits (SDKs), which incorporate essential tools, integration software, and effect libraries designed to facilitate the creation, encoding, and playback of nuanced tactile feedback within digital content. Its additional services encompass reference designs, core reference technology, expert engineering and integration assistance, and tailored software and firmware solutions. The company's offerings find application in a wide array of sectors, such as mobile communications, wearable devices, consumer electronics, gaming, virtual reality (VR), and the automotive industry, among others.
IMMR (Immersion Corporation) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $248.9M, a trailing P/E of 54.92, a beta of 1.00 versus the broader market, a 52-week range of 5.25-8.05, average daily share volume of 622K, a public-listing history dating back to 1999, approximately 14 full-time employees. These structural characteristics shape how IMMR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.00 places IMMR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 54.92 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. IMMR 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 IMMR?
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.
IMMR snapshot
As of August 14, 2026, spot at $7.54, ATM IV 24.20%, IV rank 3.83%, expected move 6.94%. The bear put spread on IMMR below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this bear put spread structure on IMMR specifically: IMMR IV at 24.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a IMMR bear put spread, with a market-implied 1-standard-deviation move of approximately 6.94% (roughly $0.52 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated IMMR expiries trade a higher absolute premium for lower per-day decay. Position sizing on IMMR should anchor to the underlying notional of $7.54 per share and to the trader's directional view on IMMR stock.
IMMR bear put spread setup
The IMMR 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 IMMR at $7.54 on that close, the first option leg uses a $7.54 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IMMR chain at a 35-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 IMMR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $7.54 | N/A |
| Sell 1 | Put | $7.16 | N/A |
IMMR 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.
IMMR bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on IMMR. 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 IMMR
Bear put spreads on IMMR reduce the cost of a bearish IMMR stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
IMMR thesis for this bear put spread
The market-implied 1-standard-deviation range for IMMR extends from approximately $7.02 on the downside to $8.06 on the upside. A IMMR bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on IMMR, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current IMMR IV rank near 3.83% 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 IMMR at 24.20%. As a Technology name, IMMR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IMMR-specific events.
IMMR 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. IMMR positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move IMMR alongside the broader basket even when IMMR-specific fundamentals are unchanged. Long-premium structures like a bear put spread on IMMR 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 IMMR chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on IMMR?
- A bear put spread on IMMR is the bear put spread strategy applied to IMMR (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 IMMR stock at $7.54 on the most recent close, the strikes shown on this page are snapped to the nearest listed IMMR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are IMMR 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 IMMR bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 24.20%), 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 IMMR bear put spread?
- The breakeven for the IMMR bear put spread priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The IMMR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.94%; 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 IMMR?
- Bear put spreads on IMMR reduce the cost of a bearish IMMR 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 IMMR implied volatility affect this bear put spread?
- IMMR ATM IV is at 24.20% with IV rank near 3.83%, 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.