Bearish Spread
Put Spread Calculator
Calculate potential profit and loss for vertical put spreads. Choose between bear put spreads (debit) or bull put spreads (credit).
BearishLimited RiskLimited Reward
A bear put spread involves buying a put at a higher strike and selling a put at a lower strike. It's a debit spread that profits when the stock falls moderately.
Spread Type
Current price: $100.00
Long Put (Buy)
Short Put (Sell)
Payoff at ExpirationStock Price vs Profit/Loss
Current: $100.00
Breakeven: $97.00
Max Profit
$700.00
Max Loss
$300.00
Trade Summary
Net Debit$300.00
Max Profit$700.00
Max Loss$300.00
Breakeven$97.00
Risk/Reward1:2.33
Spread Width
$10.00
Breakeven
$97.00
Understanding Put Spreads
A put spread (or vertical put spread) involves buying and selling put options at different strike prices but the same expiration. The direction determines if it's a debit or credit spread.
Bear Put Spread
- • Buy higher strike put
- • Sell lower strike put
- • Pay net debit
- • Profit if stock falls
Bull Put Spread
- • Sell higher strike put
- • Buy lower strike put
- • Receive net credit
- • Profit if stock rises/stays flat
Key Formulas
Bear Put Spread Max Profit
Max Profit = (Long Strike - Short Strike) × 100 - Net DebitBear Put Spread Breakeven
Breakeven = Long Strike - Net Debit per ShareRelated Calculators
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