Bear call spread, also known as vertical bear spread, consists of a long position in a higher strike call, frequently at the money, and a short position of a lower strike (in the money) call of the same expiry.
The holder of a bear call spread usually expects the base price to go down, but not reach the strike of the short call, realizing the maximum profit.
See also bull call spread, bear calendar spread, jade lizard.
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European call struck at 10.000 with expiry in 30 days
European call struck at 9.000 with expiry in 30 days
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