How are OI 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 OI bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 57.50%), the computed maximum profit is $47.50 per contract and the computed maximum loss is -$52.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a OI bear put spread?

The breakeven for the OI bear put spread priced on this page is roughly $9.48 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 OI market-implied 1-standard-deviation expected move is approximately 16.48%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

OI ATM IV is at 57.50% with IV rank near 68.78%, 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.

OI Bear Put Spread Strategy

OI (O-I Glass, Inc.), in the Consumer Cyclical sector, (Packaging & Containers industry), listed on NYSE.

O-I Glass, Inc., through its various subsidiaries, is dedicated to the manufacturing and global distribution of glass packaging. The company primarily furnishes glass containers to businesses in the food and beverage industries across the Americas, Europe, and the Asia Pacific regions. Their product offerings encompass glass bottles and jars specifically designed for alcoholic beverages, such as beer, spirits, wine, and flavored malt beverages. Additionally, they provide glass packaging solutions for a range of other products, including various food items, soft drinks, teas, juices, and pharmaceutical goods. O-I Glass ensures a comprehensive selection of glass containers, available in diverse sizes, unique shapes, and a wide spectrum of colors to meet client specifications. The company facilitates sales directly to its customers, often secured through multi-year supply contracts, and also leverages a network of distributors.

OI (O-I Glass, Inc.) trades in the Consumer Cyclical sector, specifically Packaging & Containers, with a market capitalization of approximately $1.49B, a beta of 0.65 versus the broader market, a 52-week range of 7.75-16.91, average daily share volume of 2.8M, a public-listing history dating back to 1991, approximately 21K full-time employees. These structural characteristics shape how OI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.65 indicates OI 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 OI?

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 OI snapshot

As of June 30, 2026, spot at $9.65, ATM IV 57.50%, IV rank 68.78%, expected move 16.48%. The bear put spread on OI 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 52-day expiry.

Why this bear put spread structure on OI specifically: OI IV at 57.50% 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 16.48% (roughly $1.59 on the underlying). The 52-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated OI expiries trade a higher absolute premium for lower per-day decay. Position sizing on OI should anchor to the underlying notional of $9.65 per share and to the trader's directional view on OI stock.

OI bear put spread setup

The OI 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 OI near $9.65, the first option leg uses a $10.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OI chain at a 52-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 OI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$10.00	$1.10
Sell 1	Put	$9.00	$0.58

OI bear put spread risk and reward

Net Premium / Debit: -$52.50
Max Profit (per contract): $47.50
Max Loss (per contract): -$52.50
Breakeven(s): $9.48
Risk / Reward Ratio: 0.905

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.

OI bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on OI. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	+$47.50
$2.14	-77.8%	+$47.50
$4.28	-55.7%	+$47.50
$6.41	-33.6%	+$47.50
$8.54	-11.5%	+$47.50
$10.67	+10.6%	-$52.50
$12.81	+32.7%	-$52.50
$14.94	+54.8%	-$52.50
$17.07	+76.9%	-$52.50
$19.20	+99.0%	-$52.50

When traders use bear put spread on OI

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

OI thesis for this bear put spread

The market-implied 1-standard-deviation range for OI extends from approximately $8.06 on the downside to $11.24 on the upside. A OI bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on OI, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current OI IV rank near 68.78% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on OI should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, OI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OI-specific events.

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

Frequently asked questions

What is a bear put spread on OI?: A bear put spread on OI is the bear put spread strategy applied to OI (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 OI stock trading near $9.65, the strikes shown on this page are snapped to the nearest listed OI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are OI 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 OI bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 57.50%), the computed maximum profit is $47.50 per contract and the computed maximum loss is -$52.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a OI bear put spread?: The breakeven for the OI bear put spread priced on this page is roughly $9.48 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 OI market-implied 1-standard-deviation expected move is approximately 16.48%; 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 OI?: Bear put spreads on OI reduce the cost of a bearish OI 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 OI implied volatility affect this bear put spread?: OI ATM IV is at 57.50% with IV rank near 68.78%, 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.