Bull Put Spread (Put Credit Spread) Calculator
This Bull Put Spread Calculator estimates payoff at expiration for a bull put spread, also called a put credit spread. You sell a put at a higher strike and buy a put at a lower strike (same expiration) to collect a net credit. The strategy is typically used when your outlook is neutral-to-bullish and you want defined risk.
Key Formulas
Net Credit = (Short Put Premium − Long Put Premium) per share
Breakeven = Short Strike − Net Credit
Max Profit = Net Credit × 100 × Contracts
Max Loss = (Strike Width − Net Credit) × 100 × Contracts
When Traders Use a Bull Put Spread
Bull put spreads are often used when implied volatility is elevated and you expect the underlying to stay above a support level. Because it’s a defined-risk credit spread, risk is capped compared to a naked short put.
Related Strategy Calculators
Compare with: Bear Put Spread Calculator, Bull Call Spread Calculator, Short Put Calculator.