Not financial advice. Options involve risk and are not suitable for all investors. Data is delayed up to 15 minutes.
Backratio Put Spread Calculator
Butterflies & RatiosbearishDefined Risk
Sell one put and buy multiple lower-strike puts to create convex bearish downside.
What Is a Backratio Put Spread?
Sell one put and buy multiple lower-strike puts to create convex bearish downside. This strategy has a bearish outlook and defined risk.
Setup
SELL1x ATM PUT
BUY2x OTM2 PUT
Max Profit
Large downside profit if the stock falls sharply
Max Loss
Occurs near the long put strike, reduced by net credit if opened for credit
Breakeven
Depends on strikes and net premium