Vertical Spread Analysis
Bull Put Spread Calculator: AAPL
Professional scenario analysis and payoff visualization for credit put spreads.
Bull Put Spread Scenario Analysis: AAPL
| Scenario Move (%) |
|---|
| Price at Expiry |
| Short Put Value |
| Long Put Value |
| Spread Loss |
| Profit / Loss |
| ROI on Risk |
* Click the percentage values to edit scenarios.
Payoff Profile At Expiration: AAPL
What this calculator does
The Bull Put Spread Calculator helps estimate the potential profit from selling put credit spreads. It computes the net upfront credit, identifies the max risk, and calculates the lower breakeven point.
How the strategy works
A bull put spread is a bullish credit strategy. You sell a higher-strike put and buy a lower-strike put for protection. You collect a premium and want the stock price to stay above your short strike so both puts expire worthless.
Key Formulas
Max Risk = (Spread Width - Net Credit) × 100
Breakeven = Short Put Strike - Net Credit
When traders use this strategy
Used by neutral-to-bullish traders who want to generate income or "bet" that a stock has a price floor. It is more conservative than selling a naked put.
Risks to understand
The main risk is the stock falling below the long strike, triggering the maximum loss. While loss is capped, the amount at risk is usually higher than the premium received.
Frequently Asked Questions
What is the maximum risk?
The maximum risk is the width of the strikes minus the credit you received.
Why does it lose money when the stock falls?
As the stock falls below your strike, the put you sold becomes more expensive to buy back (or results in assignment), creating a loss offset only by the premium you kept.
This calculator is for educational purposes only and does not provide financial advice.