How are TDY 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 TDY bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 31.90%), the computed maximum profit is $1,930.00 per contract and the computed maximum loss is -$1,070.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a TDY bear put spread?

The breakeven for the TDY bear put spread priced on this page is roughly $629.30 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 TDY market-implied 1-standard-deviation expected move is approximately 9.15%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

TDY ATM IV is at 31.90% with IV rank near 71.93%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

TDY Bear Put Spread Strategy

TDY (Teledyne Technologies Incorporated), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NYSE.

Teledyne Technologies Incorporated develops and supplies advanced technologies primarily for industrial sectors experiencing growth, serving customers across the United States, Canada, the United Kingdom, Belgium, the Netherlands, and other international markets. The company's Instrumentation division provides sophisticated monitoring and control equipment for use in marine environments, environmental management, various industrial processes, and other specialized applications. It also offers electronic tools for testing and measurement, alongside connectivity devices for power and communication within distributed instrumentation setups and sensor networks. Its Digital Imaging segment specializes in a broad range of imaging solutions. This includes visible spectrum sensors and digital cameras vital for industrial machine vision, automated quality control, as well as medical, research, and scientific purposes. Additionally, it offers infrared and X-ray imaging technologies for industrial, governmental, and healthcare applications.

TDY (Teledyne Technologies Incorporated) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $28.92B, a trailing P/E of 31.31, a beta of 0.94 versus the broader market, a 52-week range of 483.02-693.38, average daily share volume of 332K, a public-listing history dating back to 1999, approximately 15K full-time employees. These structural characteristics shape how TDY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.94 places TDY 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 TDY?

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 TDY snapshot

As of June 29, 2026, spot at $638.73, ATM IV 31.90%, IV rank 71.93%, expected move 9.15%. The bear put spread on TDY 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 TDY specifically: TDY IV at 31.90% is rich versus its 1-year range, which makes a premium-buying TDY bear put spread relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 9.15% (roughly $58.41 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 TDY expiries trade a higher absolute premium for lower per-day decay. Position sizing on TDY should anchor to the underlying notional of $638.73 per share and to the trader's directional view on TDY stock.

TDY bear put spread setup

The TDY 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 TDY near $638.73, the first option leg uses a $640.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TDY 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 TDY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$640.00	$18.90
Sell 1	Put	$610.00	$8.20

TDY bear put spread risk and reward

Net Premium / Debit: -$1,070.00
Max Profit (per contract): $1,930.00
Max Loss (per contract): -$1,070.00
Breakeven(s): $629.30
Risk / Reward Ratio: 1.804

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.

TDY bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on TDY. 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	-100.0%	+$1,930.00
$141.24	-77.9%	+$1,930.00
$282.46	-55.8%	+$1,930.00
$423.69	-33.7%	+$1,930.00
$564.91	-11.6%	+$1,930.00
$706.14	+10.6%	-$1,070.00
$847.36	+32.7%	-$1,070.00
$988.59	+54.8%	-$1,070.00
$1,129.82	+76.9%	-$1,070.00
$1,271.04	+99.0%	-$1,070.00

When traders use bear put spread on TDY

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

TDY thesis for this bear put spread

The market-implied 1-standard-deviation range for TDY extends from approximately $580.32 on the downside to $697.14 on the upside. A TDY bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on TDY, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current TDY IV rank near 71.93% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on TDY at 31.90%. As a Technology name, TDY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TDY-specific events.

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

Frequently asked questions

What is a bear put spread on TDY?: A bear put spread on TDY is the bear put spread strategy applied to TDY (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 TDY stock trading near $638.73, the strikes shown on this page are snapped to the nearest listed TDY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are TDY 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 TDY bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 31.90%), the computed maximum profit is $1,930.00 per contract and the computed maximum loss is -$1,070.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a TDY bear put spread?: The breakeven for the TDY bear put spread priced on this page is roughly $629.30 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 TDY market-implied 1-standard-deviation expected move is approximately 9.15%; 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 TDY?: Bear put spreads on TDY reduce the cost of a bearish TDY 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 TDY implied volatility affect this bear put spread?: TDY ATM IV is at 31.90% with IV rank near 71.93%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.