What Are Bear, Base, and Bull Stock Projections?
Bear, base, and bull projections are scenario-based forward price targets for a stock. Rather than giving you a single analyst price target — which ignores the range of possible outcomes — the three-scenario model shows you where the stock might trade under different conditions:
Downside scenario: macro headwinds, margin compression, or sector rotation drives the stock lower
Consensus scenario: the business performs roughly in line with current expectations
Upside scenario: earnings beat, multiple expansion, or a positive catalyst drives the stock higher
For options traders, these three reference points are more useful than a single price target because options strategies profit or lose across a range of outcomes, not just one.
How to Use Projections to Choose Option Strikes
The projection scenarios map directly onto options strategy selection:
- Covered call writers can use the bull target to set a call strike that captures most of the upside while collecting premium — and use the bear target to assess how much cushion they have before the stock dips below their cost basis.
- Cash-secured put sellers can use the bear target to identify a strike that the stock is unlikely to reach in the base scenario — maximizing premium collection while limiting assignment risk.
- Long call buyers can confirm that the bull target is above their breakeven price before committing to the trade.
- Spread traders can use the base and bull targets to define the upper boundary of a call spread and ensure the short leg sits above the consensus target.
Paired with the Options Calculator for a Complete Pre-Trade Workflow
OptionsVault's projections tool is designed to be used alongside the options calculator. Look up your stock's bear, base, and bull targets, identify the strike that fits your outlook, then open the calculator to price that exact strike with live Greeks and a P&L chart. The full research workflow — from price target to trade pricing — runs in one free platform without switching tabs or paying a subscription.
Covers US and Canadian Stocks
Stock projections on OptionsVault are available for US equities and Canadian stocks listed on the TSX. Canadian investors using covered call strategies on bank stocks, energy producers, or Canadian ETFs can access the same scenario-based projection framework as US traders — completely free.
See Projections for Any Stock — Free
Enter any US or Canadian ticker and get bear, base, and bull price projections instantly. Then move directly to the options calculator to price your trade.
Open Free Stock Projections →