ODV Bear Put Spread Strategy
ODV (Osisko Development Corp.), in the Basic Materials sector, (Gold industry), listed on NYSE.
Osisko Development Corp., a gold mining company, engages in the exploration, evaluation, and development of mining projects. The company's flagship project is the Cariboo Gold project covering an area of 2,071 square kilometers of mineral rights located in British Columbia, Canada. It also holds interest in James Bay Properties located in Québec, canada; and San Antonio Gold Project and Guerrero Properties located in Guerrero, Mexico. The company is headquartered in Montreal, Canada.
ODV (Osisko Development Corp.) trades in the Basic Materials sector, specifically Gold, with a market capitalization of approximately $496.1M, a beta of 1.87 versus the broader market, a 52-week range of 1.75-4.795, average daily share volume of 2.3M, a public-listing history dating back to 2008, approximately 100 full-time employees. These structural characteristics shape how ODV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.87 indicates ODV has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a bear put spread on ODV?
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 ODV snapshot
As of May 15, 2026, spot at $3.08, ATM IV 35.10%, IV rank 4.49%, expected move 10.06%. The bear put spread on ODV 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 ODV specifically: ODV IV at 35.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a ODV bear put spread, with a market-implied 1-standard-deviation move of approximately 10.06% (roughly $0.31 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 ODV expiries trade a higher absolute premium for lower per-day decay. Position sizing on ODV should anchor to the underlying notional of $3.08 per share and to the trader's directional view on ODV stock.
ODV bear put spread setup
The ODV 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 ODV near $3.08, the first option leg uses a $3.08 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ODV 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 ODV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $3.08 | N/A |
| Sell 1 | Put | $2.93 | N/A |
ODV 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.
ODV bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on ODV. 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 ODV
Bear put spreads on ODV reduce the cost of a bearish ODV stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
ODV thesis for this bear put spread
The market-implied 1-standard-deviation range for ODV extends from approximately $2.77 on the downside to $3.39 on the upside. A ODV bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on ODV, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current ODV IV rank near 4.49% 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 ODV at 35.10%. As a Basic Materials name, ODV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ODV-specific events.
ODV 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. ODV positions also carry Basic Materials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ODV alongside the broader basket even when ODV-specific fundamentals are unchanged. Long-premium structures like a bear put spread on ODV 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 ODV chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on ODV?
- A bear put spread on ODV is the bear put spread strategy applied to ODV (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 ODV stock trading near $3.08, the strikes shown on this page are snapped to the nearest listed ODV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ODV 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 ODV bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 35.10%), 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 ODV bear put spread?
- The breakeven for the ODV 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 ODV market-implied 1-standard-deviation expected move is approximately 10.06%; 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 ODV?
- Bear put spreads on ODV reduce the cost of a bearish ODV 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 ODV implied volatility affect this bear put spread?
- ODV ATM IV is at 35.10% with IV rank near 4.49%, 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.