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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 |
|---|---|---|---|---|---|
| ETN | 80% | +$236.00 | 3.4 | 40 | 30 |
| QQQ | 80% | +$166.00 | 3.3 | 33 | 55 |
| NBIS | 88% | +$155.00 | 5.3 | 45 | 8 |
| DE | 87% | +$151.00 | 5.0 | 41 | 30 |
| EQIX | 91% | +$151.00 | 5.4 | 57 | 21 |
| LMT | 83% | +$144.00 | 3.6 | 57 | 21 |
| BABA | 80% | +$142.00 | 4.5 | 40 | 30 |
| PH | 87% | +$129.00 | 5.3 | 41 | 30 |
| UVXY | 91% | +$118.00 | 6.9 | 57 | 21 |
| REGN | 94% | +$114.00 | 7.0 | 57 | 21 |
| CHTR | 91% | +$112.00 | 5.8 | 57 | 21 |
| CI | 87% | +$111.00 | 5.6 | 40 | 30 |
| SOXL | 87% | +$107.00 | 8.0 | 41 | 30 |
| VST | 87% | +$107.00 | 4.2 | 40 | 30 |
| COIN | 91% | +$106.00 | 8.7 | 40 | 30 |
| ARM | 84% | +$104.00 | 6.0 | 31 | 21 |
| META | 91% | +$104.00 | 6.8 | 39 | 45 |
| PANW | 87% | +$103.00 | 5.4 | 41 | 30 |
| ADBE | 91% | +$103.00 | 6.7 | 41 | 30 |
| LULU | 94% | +$101.00 | 6.5 | 57 | 21 |
| SNOW | 94% | +$101.00 | 7.2 | 57 | 21 |
| NUE | 81% | +$100.00 | 4.1 | 41 | 30 |
| SMCI | 84% | +$100.00 | 4.1 | 41 | 30 |
| INTU | 92% | +$99.00 | 5.9 | 84 | 14 |
| QCOM | 83% | +$98.00 | 4.2 | 40 | 30 |
| MRNA | 87% | +$98.00 | 6.1 | 40 | 30 |
| ZS | 96% | +$98.00 | 6.5 | 83 | 14 |
| APD | 83% | +$98.00 | 4.1 | 40 | 30 |
| AXP | 83% | +$97.00 | 4.1 | 40 | 30 |
| TSLA | 96% | +$97.00 | 6.3 | 83 | 21 |
| SQQQ | 91% | +$97.00 | 5.4 | 57 | 21 |
| MA | 91% | +$97.00 | 6.0 | 40 | 30 |
| ASML | 91% | +$96.00 | 6.3 | 41 | 30 |
| ISRG | 91% | +$95.00 | 5.4 | 57 | 21 |
| NOC | 91% | +$95.00 | 6.1 | 41 | 30 |
| COST | 85% | +$95.00 | 5.1 | 33 | 14 |
| BLK | 94% | +$95.00 | 6.1 | 57 | 21 |
| GS | 94% | +$94.00 | 6.1 | 57 | 21 |
| CAT | 87% | +$94.00 | 5.8 | 41 | 30 |
| DHR | 83% | +$94.00 | 3.7 | 57 | 21 |
| MDB | 91% | +$93.00 | 7.4 | 41 | 30 |
| TMO | 91% | +$92.00 | 6.1 | 41 | 30 |
| SYK | 91% | +$90.00 | 5.8 | 40 | 30 |
| RBLX | 87% | +$90.00 | 4.6 | 40 | 30 |
| NOW | 91% | +$90.00 | 5.4 | 57 | 21 |
| KKR | 83% | +$90.00 | 4.5 | 40 | 30 |
| DASH | 91% | +$89.00 | 7.0 | 40 | 30 |
Backtested results are not a guarantee of future performance.