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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 |
|---|---|---|---|---|---|
| ISRG | 81% | +$99.00 | 1.2 | 63 | 14 |
| CHTR | 83% | +$87.00 | 2.2 | 63 | 14 |
| XYZ | 81% | +$67.00 | 2.1 | 43 | 21 |
| MRNA | 85% | +$66.00 | 3.3 | 43 | 21 |
| LULU | 81% | +$63.00 | 1.1 | 63 | 14 |
| TMO | 85% | +$62.00 | 1.6 | 63 | 14 |
| AEP | 83% | +$55.00 | 4.1 | 30 | 30 |
| DHR | 81% | +$54.00 | 2.2 | 43 | 21 |
| IBB | 85% | +$43.00 | 1.8 | 63 | 14 |
| ARKK | 83% | +$42.00 | 3.9 | 30 | 30 |
Backtested results are not a guarantee of future performance.