SYNA Bear Put Spread Strategy
SYNA (Synaptics Incorporated), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Synaptics Incorporated develops, markets, and sells semiconductor product solutions worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions. It also provides Natural ID, a fingerprint ID product that is used in automobiles, notebook personal computers (PCs), PC peripherals, and other applications; TouchPad, a touch-sensitive pad that senses the position and movement of one or more fingers on its surface; SecurePad that integrates fingerprint sensor directly into the TouchPad area; ClickPad that offers a clickable mechanical design; and ForcePad. In addition, the company offers ClearPad, which enables users to interact directly with the display on mobile smartphones, tablets, and automobiles; ClearView products that provide advanced image processing and low power technology for displays on smartphones and tablets; and TouchView products, a touch controller and display driver integration product. Further, it provides TouchPad with a pointing stick in a single notebook computer enabling users to select their interface of choice; TouchStyk, a self-contained pointing stick module; ultra-low power edge artificial intelligence platform for battery powered wireless devices; wireless connectivity solutions comprising Wi-Fi, Bluetooth, global positioning system, global navigation satellite system, and ULE; and voice over IP and digital enhanced cordless telecommunications solutions. The company sells its products through direct sales, outside sales representatives, distributors, and resellers to mobile and PC OEMs; IoT OEMs; and automotive and consumer electronics manufacturers.
SYNA (Synaptics Incorporated) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $5.06B, a beta of 1.86 versus the broader market, a 52-week range of 57.54-134.27, average daily share volume of 785K, a public-listing history dating back to 2002, approximately 2K full-time employees. These structural characteristics shape how SYNA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.86 indicates SYNA 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 SYNA?
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 SYNA snapshot
As of May 15, 2026, spot at $128.57, ATM IV 72.20%, IV rank 48.50%, expected move 20.70%. The bear put spread on SYNA 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 SYNA specifically: SYNA IV at 72.20% 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 20.70% (roughly $26.61 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 SYNA expiries trade a higher absolute premium for lower per-day decay. Position sizing on SYNA should anchor to the underlying notional of $128.57 per share and to the trader's directional view on SYNA stock.
SYNA bear put spread setup
The SYNA 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 SYNA near $128.57, the first option leg uses a $130.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SYNA 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 SYNA shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $130.00 | $11.70 |
| Sell 1 | Put | $120.00 | $7.15 |
SYNA bear put spread risk and reward
- Net Premium / Debit
- -$455.00
- Max Profit (per contract)
- $545.00
- Max Loss (per contract)
- -$455.00
- Breakeven(s)
- $125.45
- Risk / Reward Ratio
- 1.198
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.
SYNA bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on SYNA. 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% | +$545.00 |
| $28.44 | -77.9% | +$545.00 |
| $56.86 | -55.8% | +$545.00 |
| $85.29 | -33.7% | +$545.00 |
| $113.72 | -11.6% | +$545.00 |
| $142.14 | +10.6% | -$455.00 |
| $170.57 | +32.7% | -$455.00 |
| $199.00 | +54.8% | -$455.00 |
| $227.42 | +76.9% | -$455.00 |
| $255.85 | +99.0% | -$455.00 |
When traders use bear put spread on SYNA
Bear put spreads on SYNA reduce the cost of a bearish SYNA stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
SYNA thesis for this bear put spread
The market-implied 1-standard-deviation range for SYNA extends from approximately $101.96 on the downside to $155.18 on the upside. A SYNA bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on SYNA, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current SYNA IV rank near 48.50% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on SYNA should anchor more to the directional view and the expected-move geometry. As a Technology name, SYNA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SYNA-specific events.
SYNA 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. SYNA positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SYNA alongside the broader basket even when SYNA-specific fundamentals are unchanged. Long-premium structures like a bear put spread on SYNA 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 SYNA chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on SYNA?
- A bear put spread on SYNA is the bear put spread strategy applied to SYNA (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 SYNA stock trading near $128.57, the strikes shown on this page are snapped to the nearest listed SYNA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SYNA 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 SYNA bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 72.20%), the computed maximum profit is $545.00 per contract and the computed maximum loss is -$455.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SYNA bear put spread?
- The breakeven for the SYNA bear put spread priced on this page is roughly $125.45 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 SYNA market-implied 1-standard-deviation expected move is approximately 20.70%; 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 SYNA?
- Bear put spreads on SYNA reduce the cost of a bearish SYNA 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 SYNA implied volatility affect this bear put spread?
- SYNA ATM IV is at 72.20% with IV rank near 48.50%, 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.