Credit Spread Calculator
Credit spreads sell a nearer-to-the-money option and buy a further one for protection: bull put (credit) or bear call (credit), net premium received with capped risk.
Spread Configuration
Short Put (Sell)
Long Put (Buy)
Enter option details to see payoff diagram
Trade Summary
Credit Received
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Return on Risk
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Spread Width
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Breakeven
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Commonly asked Credit Spread questions
What is a bull put credit spread?
Sell a higher-strike put and buy a lower-strike put. You collect a net credit; max profit is often that credit if the stock ends above the short put strike.
What is a bear call credit spread?
Sell a lower-strike call and buy a higher-strike call. Net credit upfront; max profit often the credit if the stock ends below the short call strike.
What is maximum loss?
Typically strike width times 100 times contracts minus net credit received, before commissions—defined risk.
Why trade credit spreads?
Defined risk, theta working for short premium, and a clear max profit vs max loss envelope when held to expiration math.
Where is breakeven?
Put credit: often short strike minus net credit per share. Call credit: often short strike plus net credit per share.
How does this relate to iron condors?
An iron condor combines a put credit spread and a call credit spread in one structure; each leg is a vertical credit spread.
Related Calculators
Daily Cumulative P&L
$33,989.51+$32,609.07
Avg Trade: $60.80
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Best Performing
Morning Breakouts
82% Win Rate
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