spread inputs
DETECTED: PUT CREDIT SPREAD (BULL PUT)
results — estimates
max loss$375.00
max profit$125.00
spread width$5.00 / share
breakeven$98.75
return on risk33.3%
pop (approx.)75%
POP shown is the rough shortcut 1 − credit / width (0.75). It is an approximation, not a true probability — real probability of profit depends on implied volatility, skew and time to expiration.
assumptions
Held to expiration, no early assignment, no commissions or fees, standard 100-share multiplier. Max loss occurs when the underlying finishes beyond the long strike; max profit when both legs expire worthless.
Educational math only. Not financial advice. All results are estimates.
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