How are VKTX 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 VKTX bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 57.57%), the computed maximum profit is $63.50 per contract and the computed maximum loss is -$36.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a VKTX bear put spread?

The breakeven for the VKTX bear put spread priced on this page is roughly $29.64 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 VKTX market-implied 1-standard-deviation expected move is approximately 16.50%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

VKTX ATM IV is at 57.57% with IV rank near 8.60%, 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.

VKTX Bear Put Spread Strategy

VKTX (Viking Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Viking Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the development of novel therapies for metabolic and endocrine disorders. The company's lead drug candidate is VK2809, an orally available tissue and receptor-subtype selective agonist of the thyroid hormone receptor beta (TRß), which is in Phase IIb clinical trials to treat patients with biopsy-confirmed non-alcoholic steatohepatitis, as well as NAFLD. It also develops VK5211, an orally available non-steroidal selective androgen receptor modulator that is in Phase II clinical trials for the treatment of patients recovering from non-elective hip fracture surgery; VK0612, an orally available Phase IIb-ready drug candidate for type 2 diabetes; and VK0214, an orally available tissue and receptor-subtype selective agonist of the TRß for X-linked adrenoleukodystrophy. The company was incorporated in 2012 and is headquartered in San Diego, California.

VKTX (Viking Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $3.68B, a beta of 0.71 versus the broader market, a 52-week range of 22.959-43.15, average daily share volume of 2.4M, a public-listing history dating back to 2015, approximately 45 full-time employees. These structural characteristics shape how VKTX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.71 places VKTX 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 VKTX?

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 VKTX snapshot

As of May 15, 2026, spot at $30.42, ATM IV 57.57%, IV rank 8.60%, expected move 16.50%. The bear put spread on VKTX 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 28-day expiry.

Why this bear put spread structure on VKTX specifically: VKTX IV at 57.57% is on the cheap side of its 1-year range, which favors premium-buying structures like a VKTX bear put spread, with a market-implied 1-standard-deviation move of approximately 16.50% (roughly $5.02 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated VKTX expiries trade a higher absolute premium for lower per-day decay. Position sizing on VKTX should anchor to the underlying notional of $30.42 per share and to the trader's directional view on VKTX stock.

VKTX bear put spread setup

The VKTX 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 VKTX near $30.42, the first option leg uses a $30.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VKTX chain at a 28-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 VKTX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Put	$30.00	$1.56
Sell 1	Put	$29.00	$1.19

VKTX bear put spread risk and reward

Net Premium / Debit: -$36.50
Max Profit (per contract): $63.50
Max Loss (per contract): -$36.50
Breakeven(s): $29.64
Risk / Reward Ratio: 1.740

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.

VKTX bear put spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bear put spread on VKTX. 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%	+$63.50
$6.73	-77.9%	+$63.50
$13.46	-55.8%	+$63.50
$20.18	-33.6%	+$63.50
$26.91	-11.5%	+$63.50
$33.63	+10.6%	-$36.50
$40.36	+32.7%	-$36.50
$47.08	+54.8%	-$36.50
$53.81	+76.9%	-$36.50
$60.53	+99.0%	-$36.50

When traders use bear put spread on VKTX

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

VKTX thesis for this bear put spread

The market-implied 1-standard-deviation range for VKTX extends from approximately $25.40 on the downside to $35.44 on the upside. A VKTX bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on VKTX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current VKTX IV rank near 8.60% 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 VKTX at 57.57%. As a Healthcare name, VKTX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VKTX-specific events.

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

Frequently asked questions

What is a bear put spread on VKTX?: A bear put spread on VKTX is the bear put spread strategy applied to VKTX (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 VKTX stock trading near $30.42, the strikes shown on this page are snapped to the nearest listed VKTX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are VKTX 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 VKTX bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 57.57%), the computed maximum profit is $63.50 per contract and the computed maximum loss is -$36.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a VKTX bear put spread?: The breakeven for the VKTX bear put spread priced on this page is roughly $29.64 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 VKTX market-implied 1-standard-deviation expected move is approximately 16.50%; 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 VKTX?: Bear put spreads on VKTX reduce the cost of a bearish VKTX 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 VKTX implied volatility affect this bear put spread?: VKTX ATM IV is at 57.57% with IV rank near 8.60%, 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.