TXG Bear Put Spread Strategy
TXG (10x Genomics, Inc.), in the Healthcare sector, (Medical - Healthcare Information Services industry), listed on NASDAQ.
Headquartered in Pleasanton, California, 10x Genomics, Inc. (founded in 2012 and known as 10X Technologies, Inc. until November 2014) is a prominent life science technology company. The firm specializes in creating and distributing sophisticated instrumentation, essential consumables, and software designed for in-depth analysis of biological systems. Its market presence extends globally, covering North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company's offerings feature Chromium and Chromium Connect instruments, supported by indispensable items such as microfluidic chips, slides, and reagents. A significant portion of their portfolio focuses on single-cell solutions, leveraging their Chromium platforms. These allow for precise measurement of gene activity at the individual cell level (single cell gene expression), detailed assessment of immune cell function and their targets (single cell immune profiling), exploration of DNA's physical organization and epigenetic modifications (single cell Assay for Transposase Accessible Chromatin - ATAC), and the concurrent quantification of both genetic activity and epigenetic programming across tens of thousands of cells in a single experiment (single cell multiome ATAC + gene expression).
TXG (10x Genomics, Inc.) trades in the Healthcare sector, specifically Medical - Healthcare Information Services, with a market capitalization of approximately $4.67B, a beta of 2.11 versus the broader market, a 52-week range of 11.16-37.05, average daily share volume of 3.0M, a public-listing history dating back to 2019, approximately 1K full-time employees. These structural characteristics shape how TXG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.11 indicates TXG 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 TXG?
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 TXG snapshot
As of June 30, 2026, spot at $38.39, ATM IV 86.70%, IV rank 43.04%, expected move 24.86%. The bear put spread on TXG 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 17-day expiry.
Why this bear put spread structure on TXG specifically: TXG IV at 86.70% 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 24.86% (roughly $9.54 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TXG expiries trade a higher absolute premium for lower per-day decay. Position sizing on TXG should anchor to the underlying notional of $38.39 per share and to the trader's directional view on TXG stock.
TXG bear put spread setup
The TXG 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 TXG near $38.39, the first option leg uses a $38.39 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TXG chain at a 17-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 TXG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $38.39 | N/A |
| Sell 1 | Put | $36.47 | N/A |
TXG 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.
TXG bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on TXG. 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 TXG
Bear put spreads on TXG reduce the cost of a bearish TXG stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
TXG thesis for this bear put spread
The market-implied 1-standard-deviation range for TXG extends from approximately $28.85 on the downside to $47.93 on the upside. A TXG bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on TXG, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current TXG IV rank near 43.04% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on TXG should anchor more to the directional view and the expected-move geometry. As a Healthcare name, TXG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TXG-specific events.
TXG 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. TXG positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TXG alongside the broader basket even when TXG-specific fundamentals are unchanged. Long-premium structures like a bear put spread on TXG 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 TXG chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on TXG?
- A bear put spread on TXG is the bear put spread strategy applied to TXG (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 TXG stock trading near $38.39, the strikes shown on this page are snapped to the nearest listed TXG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TXG 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 TXG bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 86.70%), 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 TXG bear put spread?
- The breakeven for the TXG 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 TXG market-implied 1-standard-deviation expected move is approximately 24.86%; 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 TXG?
- Bear put spreads on TXG reduce the cost of a bearish TXG 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 TXG implied volatility affect this bear put spread?
- TXG ATM IV is at 86.70% with IV rank near 43.04%, 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.