Bear Put Spread
Definition:

Buy In-the-Money, At-the-Money, or Out-of-the-Money Put; Sell Farther Out-of-the-Money Put.

Strategy Type:Bearish
Risk:Limited
Gain:Limited
Time Decay Effect:Negative Above Midpoint between the Two Strikes, Positive Otherwise
Increasing IV Effect:Limited
Profit/Loss by Change in Underlying Common Price

bear put spread