SRTS Bear Put Spread Strategy
SRTS (Sensus Healthcare, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Sensus Healthcare, Inc. operates as a medical technology enterprise, manufacturing and distributing radiation therapy apparatuses to medical institutions across the globe. The company's portfolio leverages superficial radiation therapy (SRT), a cutting-edge low-energy X-ray methodology. Their product line features the SRT-100, a photon X-ray system for low-energy superficial radiotherapy. This device presents a non-surgical alternative for patients dealing with non-melanoma skin cancers, including basal cell and squamous cell carcinomas, alongside other dermatological issues like keloids. Another key offering is the SRT-100 Vision, which incorporates a specialized SRT treatment planning application. This application seamlessly integrates an embedded high-frequency ultrasound imaging module, tools for volumetric tumor analysis, beam margin delineation, and dosimetry parameter configuration.
SRTS (Sensus Healthcare, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $50.0M, a beta of 1.09 versus the broader market, a 52-week range of 2.66-5.92, average daily share volume of 62K, a public-listing history dating back to 2016, approximately 54 full-time employees. These structural characteristics shape how SRTS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.09 places SRTS roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a bear put spread on SRTS?
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 SRTS snapshot
As of June 29, 2026, spot at $3.04, ATM IV 21.70%, IV rank 0.00%, expected move 6.22%. The bear put spread on SRTS 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 18-day expiry.
Why this bear put spread structure on SRTS specifically: SRTS IV at 21.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a SRTS bear put spread, with a market-implied 1-standard-deviation move of approximately 6.22% (roughly $0.19 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SRTS expiries trade a higher absolute premium for lower per-day decay. Position sizing on SRTS should anchor to the underlying notional of $3.04 per share and to the trader's directional view on SRTS stock.
SRTS bear put spread setup
The SRTS 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 SRTS near $3.04, the first option leg uses a $3.04 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SRTS chain at a 18-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 SRTS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $3.04 | N/A |
| Sell 1 | Put | $2.89 | N/A |
SRTS 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.
SRTS bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on SRTS. 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 SRTS
Bear put spreads on SRTS reduce the cost of a bearish SRTS stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
SRTS thesis for this bear put spread
The market-implied 1-standard-deviation range for SRTS extends from approximately $2.85 on the downside to $3.23 on the upside. A SRTS bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on SRTS, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current SRTS IV rank near 0.00% 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 SRTS at 21.70%. As a Healthcare name, SRTS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SRTS-specific events.
SRTS 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. SRTS positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SRTS alongside the broader basket even when SRTS-specific fundamentals are unchanged. Long-premium structures like a bear put spread on SRTS 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 SRTS chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on SRTS?
- A bear put spread on SRTS is the bear put spread strategy applied to SRTS (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 SRTS stock trading near $3.04, the strikes shown on this page are snapped to the nearest listed SRTS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SRTS 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 SRTS bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 21.70%), 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 SRTS bear put spread?
- The breakeven for the SRTS 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 SRTS market-implied 1-standard-deviation expected move is approximately 6.22%; 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 SRTS?
- Bear put spreads on SRTS reduce the cost of a bearish SRTS 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 SRTS implied volatility affect this bear put spread?
- SRTS ATM IV is at 21.70% with IV rank near 0.00%, 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.