The Bear Call Income Engine

This is why beginners love this strategy. You have a massive “buffer” before you start losing money.

  • Breakeven Formula: Lower Strike + Net Credit.

    • $700 + $0.83 = $700.83.

  • Upside Leeway:

    • Current SPY Price: $672.35

    • Your Breakeven: $700.83

    • The Buffer: SPY can rise by $28.48 (over 4%) and you still don’t lose a penny at expiration.