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Bear Call Credit Spread

directional Capped loss

Defined-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 Sharpe Trades DTE
XOM 91% +$23 3.5 76 23
BRK-B 86% +$30 2.3 37 33
VISN 85% +$4 2.3 83 14
LQD 84% +$15 2.0 41 30
TLT 84% +$26 2.0 41 30
CVS 84% +$27 1.5 84 14
UAL 84% +$16 0.6 84 14
IBB 83% +$40 2.3 57 21
BMY 83% +$21 1.9 57 21
BMNR 83% $-14 -0.3 57 3
LFVN 83% +$5 1.0 122 14
VXX 82% +$69 1.8 84 14
D 82% +$11 1.4 84 14
CRM 82% +$36 1.0 83 21
ADC 82% +$11 1.0 122 14
NVRI 82% +$16 2.2 59 30
SNAP 81% +$25 1.7 57 21
SHOP 81% +$30 1.6 57 21
LIN 81% +$45 1.4 57 21
UPS 81% +$59 1.3 57 21
BITO 81% +$7 1.4 78 14
UVXY 81% +$51 1.0 84 14
PG 81% +$19 1.5 84 14
REPL 81% +$11 0.7 122 14
PSEC 81% +$2 1.4 83 21
JD 81% +$31 2.9 41 30
NKE 81% +$43 2.4 41 30
VRTX 81% +$60 2.0 41 30
O 81% +$24 1.9 41 30
CMCSA 81% +$14 1.8 41 30
T 81% +$10 1.7 41 30
LCID 81% +$40 1.4 41 30
UNG 80% +$37 1.8 40 30

Backtested results are not a guarantee of future performance.