TGTX Bear Put Spread Strategy
TGTX (TG Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
TG Therapeutics, Inc., a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its therapeutic product candidates include Ublituximab, an investigational glycoengineered monoclonal antibody for the treatment of B-cell non-hodgkin lymphoma, chronic lymphocytic leukemia (CLL), and relapsing forms of multiple sclerosis; and Umbralisib, an oral inhibitor of PI3K-delta and CK1-epsilon for the treatment of CLL, marginal zone lymphoma, and follicular lymphoma. The company also develops Cosibelimab, a human monoclonal antibody of IgG1 subtype that binds to programmed death-ligand 1 (PD-L1) and blocks its interactions with PD-1 and B7.1 receptors; TG-1701 is an orally available and covalently-bound Bruton's tyrosine kinase (BTK) inhibitor that exhibits selectivity to BTK compared to ibrutinib in in vitro kinase screening; and TG-1801, a bispecific CD47 and CD19 antibody. In addition, it has various licensed preclinical programs for BET, interleukin-1 receptor associated kinase-4, and GITR; and collaboration agreements with Checkpoint Therapeutics, Inc., Jiangsu Hengrui Medicine Co., Novimmune SA, Ligand Pharmaceuticals Incorporated, and Jubilant Biosys. The company has strategic alliances with LFB Biotechnologies S.A.S; GTC Biotherapeutics; LFB/GTC LLC; Ildong Pharmaceutical Co. Ltd.; and Rhizen Pharmaceuticals, S A.
TGTX (TG Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $6.53B, a trailing P/E of 13.34, a beta of 1.68 versus the broader market, a 52-week range of 25.28-44.65, average daily share volume of 2.1M, a public-listing history dating back to 2010, approximately 352 full-time employees. These structural characteristics shape how TGTX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.68 indicates TGTX 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 TGTX?
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 TGTX snapshot
As of May 15, 2026, spot at $39.50, ATM IV 44.00%, IV rank 5.52%, expected move 12.61%. The bear put spread on TGTX 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 TGTX specifically: TGTX IV at 44.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a TGTX bear put spread, with a market-implied 1-standard-deviation move of approximately 12.61% (roughly $4.98 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 TGTX expiries trade a higher absolute premium for lower per-day decay. Position sizing on TGTX should anchor to the underlying notional of $39.50 per share and to the trader's directional view on TGTX stock.
TGTX bear put spread setup
The TGTX 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 TGTX near $39.50, the first option leg uses a $39.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TGTX 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 TGTX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $39.00 | $1.78 |
| Sell 1 | Put | $38.00 | $1.28 |
TGTX bear put spread risk and reward
- Net Premium / Debit
- -$50.00
- Max Profit (per contract)
- $50.00
- Max Loss (per contract)
- -$50.00
- Breakeven(s)
- $38.50
- Risk / Reward Ratio
- 1.000
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.
TGTX bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on TGTX. 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% | +$50.00 |
| $8.74 | -77.9% | +$50.00 |
| $17.48 | -55.8% | +$50.00 |
| $26.21 | -33.7% | +$50.00 |
| $34.94 | -11.5% | +$50.00 |
| $43.67 | +10.6% | -$50.00 |
| $52.41 | +32.7% | -$50.00 |
| $61.14 | +54.8% | -$50.00 |
| $69.87 | +76.9% | -$50.00 |
| $78.60 | +99.0% | -$50.00 |
When traders use bear put spread on TGTX
Bear put spreads on TGTX reduce the cost of a bearish TGTX stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
TGTX thesis for this bear put spread
The market-implied 1-standard-deviation range for TGTX extends from approximately $34.52 on the downside to $44.48 on the upside. A TGTX bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on TGTX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current TGTX IV rank near 5.52% 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 TGTX at 44.00%. As a Healthcare name, TGTX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TGTX-specific events.
TGTX 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. TGTX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TGTX alongside the broader basket even when TGTX-specific fundamentals are unchanged. Long-premium structures like a bear put spread on TGTX 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 TGTX chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on TGTX?
- A bear put spread on TGTX is the bear put spread strategy applied to TGTX (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 TGTX stock trading near $39.50, the strikes shown on this page are snapped to the nearest listed TGTX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TGTX 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 TGTX bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 44.00%), the computed maximum profit is $50.00 per contract and the computed maximum loss is -$50.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TGTX bear put spread?
- The breakeven for the TGTX bear put spread priced on this page is roughly $38.50 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 TGTX market-implied 1-standard-deviation expected move is approximately 12.61%; 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 TGTX?
- Bear put spreads on TGTX reduce the cost of a bearish TGTX 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 TGTX implied volatility affect this bear put spread?
- TGTX ATM IV is at 44.00% with IV rank near 5.52%, 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.