Course Content
1. The ‘Smarter’ Directional Bet
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Lesson 1.1: Introduction – The Long Put Upgrade
Lesson 1.2: Why We Call it a ‘Debit Spread’
Lesson 1.3: Capping the Profit for Lower Risk
2. The Math of Leverage (Risk vs. Reward)
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Lesson 2.1: Max Loss & Max Profit
Lesson 2.2: ROI – The Power of the Spread
Lesson 2.3: The Breakeven Point
3. The Greeks of Momentum (Delta & Theta)
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Lesson 3.1: Net Delta – Your Profit Rocket
Lesson 3.2: Net Theta – The Rent You Pay
Lesson 3.3: Net Vega – The Volatility Boost
4. Picking Your Strikes and Assignment Risk
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Lesson 4.1: Choosing Your Bearish Level
Lesson 4.2: Assignment Risk (The ‘Short’ Leg)
Lesson 4.3: Professional Management (Don’t Get Pinned)
5. Actions to Take at Expiry
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Lesson 5.1: The Three Expiration Scenarios
Lesson 5.2: Managing Scenario 3 (The ‘In-Between’ Risk)
Lesson 5.3: The ‘Set and Forget’ Target
Bear Put Spread Quiz
6. Topic 6: Course Summary & The Bearish Roadmap
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Lesson 6.1: The ‘Triple-Lock’ Entry Rules
Lesson 6.2: When in Doubt—Ask Us!
The Bear Put Spread

In our SPY $672/$668 example, your goal is for the SPY to drop below your lower strike.

  • Max Loss: This is exactly what you paid to enter.

    • $14.06 (Paid) – $12.54 (Collected) = $1.52 ($152 per contract).

    • If SPY stays above $672, the most you can lose is $152.

  • Max Profit: This is the width of your strikes minus the debit you paid.

    • $672 – $668 = $4.00 (Width)

    • $4.00 – $1.52 = $2.48 ($248 per contract).

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