Bear Call Spread Option Strategy

A bear call spread sells a call at a lower strike and buys a call at a higher strike in the same expiration, taking in a net credit that is kept if the stock stays below the short strike.

Both legs are quoted from bid and ask so the credit reflects real markets rather than a mid price, and the long call caps what the spread can lose at the strike difference less the credit received. The payoff table gives the breakeven and the flat regions above and below the two strikes.