LNTH Bear Put Spread Strategy
LNTH (Lantheus Holdings, Inc.), in the Healthcare sector, (Drug Manufacturers - Specialty & Generic industry), listed on NASDAQ.
Lantheus Holdings, Inc. is a global pharmaceutical company dedicated to the development, manufacturing, and commercialization of advanced diagnostic and therapeutic agents. Their mission is to empower clinicians worldwide in the accurate diagnosis and effective treatment of a wide spectrum of conditions, particularly heart disease, various cancers, and other serious illnesses. Their current diagnostic portfolio features several key products: DEFINITY, a microbubble ultrasound contrast agent for cardiac evaluations; TechneLite, a technetium generator essential for nuclear medicine; Xenon-133, used to assess pulmonary function; Neurolite, which helps identify stroke-damaged areas in the brain; Cardiolite, an injectable Tc-99m-labeled imaging agent; Thallium-201 for detecting cardiovascular disease; and Gallium-67, utilized in identifying infections and cancerous tumors. They also offer the Automated Bone Scan Index, a tool for quantifying prostate cancer burden from bone scans; PYLARIFY, designed for visualizing lymph nodes, bone, and soft tissue metastases to detect recurrent or metastatic prostate cancer; and Cobalt (Co 57), a non-pharmaceutical radiochemical. In the therapeutic space, Lantheus provides AZEDRA, a radiopharmaceutical treatment for both adult and pediatric patients, and RELISTOR, a medication addressing opioid-induced constipation. The company's robust development pipeline includes promising innovations such as flurpiridaz F 18, an agent for assessing myocardial blood flow; 1095, a PSMA-targeted iodine-131 labeled small molecule; LMI 1195 for neuroblastoma tumors in both children and adults; PYLARIFY AI, an AI-powered medical device software for standardized quantitative analysis of PSMA PET/CT images in prostate cancer; and leronlimab, an investigational humanized monoclonal antibody.
LNTH (Lantheus Holdings, Inc.) trades in the Healthcare sector, specifically Drug Manufacturers - Specialty & Generic, with a market capitalization of approximately $7.15B, a trailing P/E of 25.47, a beta of -0.04 versus the broader market, a 52-week range of 47.25-111.46, average daily share volume of 911K, a public-listing history dating back to 2015, approximately 808 full-time employees. These structural characteristics shape how LNTH stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.04 indicates LNTH has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a bear put spread on LNTH?
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 LNTH snapshot
As of June 30, 2026, spot at $110.34, ATM IV 41.20%, IV rank 4.43%, expected move 11.81%. The bear put spread on LNTH 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 LNTH specifically: LNTH IV at 41.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a LNTH bear put spread, with a market-implied 1-standard-deviation move of approximately 11.81% (roughly $13.03 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 LNTH expiries trade a higher absolute premium for lower per-day decay. Position sizing on LNTH should anchor to the underlying notional of $110.34 per share and to the trader's directional view on LNTH stock.
LNTH bear put spread setup
The LNTH 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 LNTH near $110.34, the first option leg uses a $110.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LNTH 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 LNTH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $110.00 | $3.63 |
| Sell 1 | Put | $105.00 | $2.33 |
LNTH bear put spread risk and reward
- Net Premium / Debit
- -$130.00
- Max Profit (per contract)
- $370.00
- Max Loss (per contract)
- -$130.00
- Breakeven(s)
- $108.70
- Risk / Reward Ratio
- 2.846
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.
LNTH bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on LNTH. 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% | +$370.00 |
| $24.41 | -77.9% | +$370.00 |
| $48.80 | -55.8% | +$370.00 |
| $73.20 | -33.7% | +$370.00 |
| $97.59 | -11.6% | +$370.00 |
| $121.99 | +10.6% | -$130.00 |
| $146.38 | +32.7% | -$130.00 |
| $170.78 | +54.8% | -$130.00 |
| $195.18 | +76.9% | -$130.00 |
| $219.57 | +99.0% | -$130.00 |
When traders use bear put spread on LNTH
Bear put spreads on LNTH reduce the cost of a bearish LNTH stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
LNTH thesis for this bear put spread
The market-implied 1-standard-deviation range for LNTH extends from approximately $97.31 on the downside to $123.37 on the upside. A LNTH bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on LNTH, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current LNTH IV rank near 4.43% 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 LNTH at 41.20%. As a Healthcare name, LNTH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LNTH-specific events.
LNTH 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. LNTH positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LNTH alongside the broader basket even when LNTH-specific fundamentals are unchanged. Long-premium structures like a bear put spread on LNTH 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 LNTH chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on LNTH?
- A bear put spread on LNTH is the bear put spread strategy applied to LNTH (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 LNTH stock trading near $110.34, the strikes shown on this page are snapped to the nearest listed LNTH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are LNTH 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 LNTH bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 41.20%), the computed maximum profit is $370.00 per contract and the computed maximum loss is -$130.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a LNTH bear put spread?
- The breakeven for the LNTH bear put spread priced on this page is roughly $108.70 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 LNTH market-implied 1-standard-deviation expected move is approximately 11.81%; 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 LNTH?
- Bear put spreads on LNTH reduce the cost of a bearish LNTH 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 LNTH implied volatility affect this bear put spread?
- LNTH ATM IV is at 41.20% with IV rank near 4.43%, 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.