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Bull Put Credit Spread
BEGINNER income Capped lossDefined-risk bullish income.
When to use it
Bullish but you want capped risk and less capital than a CSP. Sell a put near the money, buy a lower put as a wing. ~45 DTE, exit ~75% max profit.
Max profit
Net credit received.
Max loss
Spread width − net credit.
Payoff at expiry
illustrative shape — not to scale
■ profit zone
■ loss zone
X axis = stock price at expiry →
How it's built
Strikes shown low→high. Sell = collect premium · Buy = pay premium for protection or upside.
Hermes-evaluated setups
High-conviction per-ticker applications — setups with a confidence-adjusted win rate ≥ 80% over ≥20 backtested trades (95% lower bound — honest for the sample size, never a raw 100%). Avg P/L is the mean profit/loss per one-contract position.
| Ticker | Win Rate | Avg P/L / contract | Sharpe | Trades | DTE |
|---|---|---|---|---|---|
| CASY | 84% | +$93.00 | 4.2 | 31 | 30 |
| MRVL | 81% | +$92.00 | 1.9 | 43 | 21 |
| LNG | 81% | +$86.00 | 3.6 | 43 | 21 |
| XOM | 83% | +$86.00 | 4.9 | 30 | 30 |
| COST | 85% | +$81.00 | 3.1 | 43 | 21 |
| ISRG | 81% | +$77.00 | 2.2 | 43 | 21 |
| NOW | 84% | +$72.00 | 3.3 | 31 | 30 |
| CVLT | 85% | +$65.00 | 3.3 | 43 | 21 |
| COF | 81% | +$64.00 | 2.3 | 43 | 21 |
| ETN | 81% | +$61.00 | 2.2 | 43 | 21 |
| ORCL | 81% | +$61.00 | 2.5 | 63 | 14 |
| NTAP | 83% | +$58.00 | 1.9 | 63 | 14 |
| STRL | 85% | +$56.00 | 2.5 | 43 | 21 |
| LRCX | 88% | +$52.00 | 5.1 | 43 | 21 |
Backtested results are not a guarantee of future performance.