NSLR Bear Put Spread Strategy
NSLR (Neostellar Capital Corp.), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
Neostellar Capital Corp. is a venture capital, mezzanine, secondary(direct) and business development company specializing in growth capital, emerging growth, late stage and venture capital-backed private companies. It prefers to invest in energy and utilities, consumer, technology, media and communication sectors. The company prefers to invest in United States of America and Canada. The firm only seeks minority stakes. Neostellar Capital Corp. was formerly known as SuRo Capital Corp. and changed its name to Neostellar Capital Corp. in July 2026. The company was founded in 2010 and is based in San Francisco, California.
NSLR (Neostellar Capital Corp.) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $287.0M, a trailing P/E of 1.97, a beta of 1.41 versus the broader market, a 52-week range of 8.28-14.98, average daily share volume of 297K, a public-listing history dating back to 2011, approximately 9 full-time employees. These structural characteristics shape how NSLR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.41 indicates NSLR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 1.97 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a bear put spread on NSLR?
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.
NSLR snapshot
As of August 14, 2026, spot at $10.57, ATM IV 48.50%, expected move 13.90%. The bear put spread on NSLR 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 NSLR specifically: IV rank is unavailable in the current snapshot, so regime-based timing for NSLR is inferred from ATM IV at 48.50% alone, with a market-implied 1-standard-deviation move of approximately 13.90% (roughly $1.47 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 NSLR expiries trade a higher absolute premium for lower per-day decay. Position sizing on NSLR should anchor to the underlying notional of $10.57 per share and to the trader's directional view on NSLR stock.
NSLR bear put spread setup
The NSLR 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 NSLR at $10.57 on that close, the first option leg uses a $10.57 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NSLR 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 NSLR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $10.57 | N/A |
| Sell 1 | Put | $10.04 | N/A |
NSLR 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.
NSLR bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on NSLR. 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 NSLR
Bear put spreads on NSLR reduce the cost of a bearish NSLR stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
NSLR thesis for this bear put spread
The market-implied 1-standard-deviation range for NSLR extends from approximately $9.10 on the downside to $12.04 on the upside. A NSLR bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on NSLR, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. As a Financial Services name, NSLR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NSLR-specific events.
NSLR 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. NSLR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NSLR alongside the broader basket even when NSLR-specific fundamentals are unchanged. Long-premium structures like a bear put spread on NSLR 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 NSLR chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on NSLR?
- A bear put spread on NSLR is the bear put spread strategy applied to NSLR (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 NSLR stock at $10.57 on the most recent close, the strikes shown on this page are snapped to the nearest listed NSLR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are NSLR 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 NSLR bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 48.50%), 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 NSLR bear put spread?
- The breakeven for the NSLR 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 NSLR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.90%; 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 NSLR?
- Bear put spreads on NSLR reduce the cost of a bearish NSLR 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 NSLR implied volatility affect this bear put spread?
- Current NSLR ATM IV is 48.50%; IV rank context is unavailable in the current snapshot.