Bear Put Spread (ETFs)
A Bear Put spread is a debit spread created by purchasing a Put with a higher strike price and selling a Put with a lower strike price. Both options expire in the same month. This is a bearish strategy and should be implemented when you expect the market to close below the strike price of the short Put option—the point of maximum reward (at expiration).
GLD $169.97
Buy to Open (1) Sep 11 174 P @ $7.60
Sell to Open (1) Sep 11 169 P @ $4.55
Net Debit: $3.05 ($305.00)
Breakeven: $170.95
Max. Profit: $195.00
Pct Return: 63.9% (34 days)
TLT $105.57
Buy to Open (1) Sep 11 109 P @ $5.75
Sell to Open (1) Sep 11 104 P @ $2.66
Net Debit: $3.09 ($309.00)
Breakeven: $105.91
Max. Profit: $191.00
Pct Return: 61.8% (34 days)
GDX $59.22
Buy to Open (1) Sep 11 63 P @ $5.10
Sell to Open (1) Sep 11 58 P @ $2.22
Net Debit: $2.88 ($288.00)
Breakeven: $60.12
Max. Profit: $212.00
Pct Return: 73.6% (34 days)
SLV $38.12
Buy to Open (1) Sep 11 42 P @ $4.70
Sell to Open (1) Sep 11 37 P @ $1.55
Net Debit: $3.15 ($315.00)
Breakeven: $38.85
Max. Profit: $185.00
Pct Return: 58.7% (34 days)
VXX $34.13
Buy to Open (1) Sep 11 35 P @ $5.35
Sell to Open (1) Sep 11 30 P @ $2.26
Net Debit: $3.09 ($309.00)
Breakeven: $31.91
Max. Profit: $191.00
Pct Return: 61.8% (34 days)
All positions displayed are for educational purposes only and are not intended to be recommendations.
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