The Bull Put Spread Playbook: Collect Premium with Guardrails

Payoff diagram for a Bull Put Spread, showing maximum profit, breakeven, and maximum loss zones.

This is a rules-first guide to the bull put spread (put credit spread): how it works, how to pick strikes (~17 delta, ~45 DTE), how to manage winners/losers mechanically, and what risks can still bite you. The Bull Put Spread: A bull put spread (also called a put credit spread) is a credit spread built […]

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