# Is there a Bull Put Spread strategy?

I know there is a bear call and bear put, but I don’t recall seeing a bull put.

Reverse the bear put…i.e., buy what you sell in bear put and sell what you buy…and presto you have a bull put.

Bull Spread can be eitehr Calls or Puts - but usually Calls. There is even Bull sh1t.

Bull Spread = Buy Low Call, Sell High Call Bull Spread = Sell Low Put, Buy High Put Bear Spread = Buy Low Put, Sell High Put Bear Spread = Sell Low Call, Buy High Call I think that is all correct above… Lets hope I’m not full of Bull sh1t or Bear scat

So then a bull spread with puts would be: Buy puts with X1 and sell puts with X2?

Is this a correct summary then? Bull Call: Buy low call, short high call Bear Call: Short low call, buy high call Bull Put: Buy low put, short high put Bear Put: Short low put, buy high put I’m certain the call strategies correct. Do I have the put strategies flipped?

Just think of this: Bull = Delta + Bear = Delta - Assume you buy a call at X1 and sell a call at X2: if X2>X1 (X2X1), the delta of the second option will be pos and smaller (larger) in abs value, thus the overall delta is negative (positive).

calls with lower strikes have higher deltas since puts have negative deltas, puts with higher strikes have more positive deltas For calls: buying a low strike and selling a high strike has a net positive delta (bull call) For puts: buying a low strike and selling a high strike has a net positive delta (bull put)