Seagull spread - calls or puts for the bull spread?

CFA Level III Portfolio Management
#1

I have read many things and somehow get it, but my question is
lets assume you have a long seagull spread and you can construct a bull spread using either calls or puts, how do you know that if you have to use calls or puts for the bull spread?

#2

Are you talking about the bull spread that comprises the two lower strikes in the long (bullish) seagull?

If so, it can be calls or puts; it makes no difference.

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#3

And, of course, you can build a long (or short) (bullish) seagull spread starting with an original (long) position in the underlying.

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#4

yes i somehow managed to figure it out

thank you though