How are USFD 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 USFD bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 25.90%), the computed maximum profit is $345.00 per contract and the computed maximum loss is -$155.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a USFD bear put spread?

The breakeven for the USFD bear put spread priced on this page is roughly $80.95 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 USFD market-implied 1-standard-deviation expected move is approximately 7.43%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

USFD ATM IV is at 25.90% with IV rank near 31.18%, 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.

USFD Bear Put Spread Strategy

USFD (US Foods Holding Corp.), in the Consumer Defensive sector, (Food Distribution industry), listed on NYSE.

US Foods Holding Corp., through its subsidiary, US Foods, Inc., markets and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations. As of July 06, 2022, it operated 70 broadline facilities; and 80 cash and carry locations. The company was formerly known as USF Holding Corp. and changed its name to US Foods Holding Corp. in February 2016. US Foods Holding Corp. was incorporated in 2007 and is headquartered in Rosemont, Illinois.

USFD (US Foods Holding Corp.) trades in the Consumer Defensive sector, specifically Food Distribution, with a market capitalization of approximately $18.75B, a trailing P/E of 27.72, a beta of 0.90 versus the broader market, a 52-week range of 69.875-102.13, average daily share volume of 2.5M, a public-listing history dating back to 2016, approximately 30K full-time employees. These structural characteristics shape how USFD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.90 places USFD 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 USFD?

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 USFD snapshot

As of May 15, 2026, spot at $82.38, ATM IV 25.90%, IV rank 31.18%, expected move 7.43%. The bear put spread on USFD 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 USFD specifically: USFD IV at 25.90% 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 7.43% (roughly $6.12 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 USFD expiries trade a higher absolute premium for lower per-day decay. Position sizing on USFD should anchor to the underlying notional of $82.38 per share and to the trader's directional view on USFD stock.

USFD bear put spread setup

The USFD 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 USFD near $82.38, the first option leg uses a $82.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed USFD 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 USFD shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$82.50	$2.58
Sell 1	Put	$77.50	$1.03

USFD bear put spread risk and reward

Net Premium / Debit: -$155.00
Max Profit (per contract): $345.00
Max Loss (per contract): -$155.00
Breakeven(s): $80.95
Risk / Reward Ratio: 2.226

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.

USFD bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on USFD. 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%	+$345.00
$18.22	-77.9%	+$345.00
$36.44	-55.8%	+$345.00
$54.65	-33.7%	+$345.00
$72.86	-11.6%	+$345.00
$91.08	+10.6%	-$155.00
$109.29	+32.7%	-$155.00
$127.50	+54.8%	-$155.00
$145.72	+76.9%	-$155.00
$163.93	+99.0%	-$155.00

When traders use bear put spread on USFD

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

USFD thesis for this bear put spread

The market-implied 1-standard-deviation range for USFD extends from approximately $76.26 on the downside to $88.50 on the upside. A USFD bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on USFD, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current USFD IV rank near 31.18% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on USFD should anchor more to the directional view and the expected-move geometry. As a Consumer Defensive name, USFD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to USFD-specific events.

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

Frequently asked questions

What is a bear put spread on USFD?: A bear put spread on USFD is the bear put spread strategy applied to USFD (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 USFD stock trading near $82.38, the strikes shown on this page are snapped to the nearest listed USFD chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are USFD 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 USFD bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 25.90%), the computed maximum profit is $345.00 per contract and the computed maximum loss is -$155.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a USFD bear put spread?: The breakeven for the USFD bear put spread priced on this page is roughly $80.95 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 USFD market-implied 1-standard-deviation expected move is approximately 7.43%; 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 USFD?: Bear put spreads on USFD reduce the cost of a bearish USFD 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 USFD implied volatility affect this bear put spread?: USFD ATM IV is at 25.90% with IV rank near 31.18%, 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.