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Bear Put Spread Option Strategy

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Buying a put and selling a lower strike put in the same expiration produces a bear put spread, a debit position that pays as the stock falls toward the short strike.

Both legs are quoted from bid and ask so the net debit reflects a realistic fill, and the short put caps the gain at the difference between the strikes while loss is limited to the premium paid. Company name and last price anchor the underlying, and the payoff table gives the breakeven along with the flat regions past each strike.

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