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Bear Call Credit Spread
directional Capped lossDefined-risk bearish income.
When to use it
Bearish or capped at resistance. Sell a call near the money, buy a higher call as a wing. ~45 DTE.
Max profit
Net credit received.
Max loss
Spread width − net credit.
Payoff at expiry
illustrative shape — not to scale
■ profit zone
■ loss zone
X axis = stock price at expiry →
How it's built
Strikes shown low→high. Sell = collect premium · Buy = pay premium for protection or upside.
Hermes-evaluated setups
High-conviction per-ticker applications — setups with a confidence-adjusted win rate ≥ 80% over ≥20 backtested trades (95% lower bound — honest for the sample size, never a raw 100%). Avg P/L is the mean profit/loss per one-contract position.
| Ticker | Win Rate | Avg P/L / contract | Sharpe | Trades | DTE |
|---|---|---|---|---|---|
| VXX | 82% | +$69.00 | 1.8 | 84 | 14 |
| VRTX | 81% | +$60.00 | 2.0 | 41 | 30 |
| UPS | 81% | +$59.00 | 1.3 | 57 | 21 |
| UVXY | 81% | +$51.00 | 1.0 | 84 | 14 |
| LIN | 81% | +$45.00 | 1.4 | 57 | 21 |
| NKE | 81% | +$43.00 | 2.4 | 41 | 30 |
| IBB | 83% | +$40.00 | 2.3 | 57 | 21 |
| LCID | 81% | +$40.00 | 1.4 | 41 | 30 |
| UNG | 80% | +$37.00 | 1.8 | 40 | 30 |
| CRM | 82% | +$36.00 | 1.0 | 83 | 21 |
Backtested results are not a guarantee of future performance.