MOD — Jun 260/210 put credit spread
Modine prints Q4 FY26 May 26 AMC after raising FY26 net-sales guide to 20-25% growth and a Climate Solutions data-center segment that's gone from 4% to 25% of revenue ($640M in FY25, on track for >$2B by FY28). The chain's 21.8% June implied move sits well above MOD's recent 10-15% earnings realized, and the 30Δ put at 260 collects $15.95 of credit against a 1σ wing at 210 — selling the post-print IV crush into a beat-and-raise pattern that's been the base case for four quarters.
- Ticker: MOD
- Direction: Bullish
- Risk profile: earnings
- Confidence: medium
- Catalyst: Q4 FY26 earnings (2026-05-26)
- Cohort: 2026-05-18
- Expires: 2026-05-25
- Max loss: $34.05
- Max gain: $15.95
Structure
- short put 260 2026-06-18
- long put 210 2026-06-18
Signals
- FY26 sales guide: +20-25% (raised) (web_search)
- Data-center mix of revenue: 25% (was 4%) (web_search)
- FY25 DC revenue: M (web_search)
- DC trajectory: >B by FY28 (+70% growth path) (web_search)
What invalidates this thesis
If the FY27 sales guide stalls below 15% or if Climate Solutions margins compress on the Airedale integration mix, the stock can break $244 (the spread breakeven) and the structure runs to max loss of $34.05.