Bearish strategies

Structures for a falling or weakening underlying

Structures for a declining or weak underlying

Put purchase with defined premium at risk and downside.

Long higher-strike put financed by short lower-strike put.

Short lower-strike call with protective higher-strike call.

Short shares with short put limiting profit below strike.

Short higher-strike put with two long lower-strike puts.

Bear put spread with additional short put.

Short call and long put at same strike mimic short stock.

What the calculator includes

At-expiration modelling. Every line uses intrinsic value, entered premium, quantity and a 100-share option multiplier.

Editable legs. Change side, instrument, quantity, strike or premium; add and remove legs without an account.

Model boundary. Results exclude Greeks, implied volatility, time decay before expiration, fees, tax, liquidity, assignment and exercise behavior.