01 — SPY · BULL PUT SPREADS

Best SPY bull put spreads setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Deep liquidity and broad macro sensitivity, useful for probability-based structures.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
SPDR S&P 500 ETF Trust
Index ETF
SPY
$755.72-0.9% / 30d
IV rank (1y)
33.7% · moderate
Option vol
1593K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick · credit spread
$744/$735 put spread · Dec 4
34 DAYS · 1.6% OTM · 9 WIDE · SELL TO OPEN
Credit
$425
Return
89.47%
PoP
65%
SpreadExpirationCreditReturn ↓PoP
$748 / $738
1.0% OTM · 10 wide
Nov 27
27 days
$443
$4.43 / share
79.53%62%
$743 / $735
1.7% OTM · 8 wide
Dec 4
34 days
$348
$3.48 / share
76.99%66%
$744 / $735
1.6% OTM · 9 wide
Nov 27
27 days
$389
$3.89 / share
76.13%66%
$747 / $737
1.1% OTM · 10 wide
Dec 4
34 days
$419
$4.19 / share
72.12%62%
$741 / $730
1.9% OTM · 11 wide
Dec 4
34 days
$435
$4.35 / share
65.41%67%
$748 / $738
1.0% OTM · 10 wide
Dec 4
34 days
$384
$3.84 / share
62.34%61%
$749 / $739
0.9% OTM · 10 wide
Nov 30
30 days
$362
$3.62 / share
56.74%60%
$747 / $737
1.1% OTM · 10 wide
Nov 30
30 days
$348
$3.48 / share
53.37%63%
$747 / $737
1.1% OTM · 10 wide
Nov 27
27 days
$334
$3.34 / share
50.15%63%
10 of 46 matchesCustomize filters →

03 — Strategy

Bull Put Spreads, plainly explained

Moderately bullish traders who want defined risk and credit-based income.

P&L at expiration · $744/$735 put spread · 34 DTE

$0+$425−$475$735 LONG$739.75 BE$744 SHORT

Key numbers

Premium collected+$425
Max profit+$425
Max loss−$475
Breakeven$739.75
Spread$744 / $735
Probability of profit65%
Days to expiration34

When this trade makes sense

Use when

    Avoid when

      Read the full bull put spreads guide →

      05 — RUN IT LIVE

      See the highest chance of profit on SPY.

      Alpha Hawk scans live chains and recommends setups based on current market conditions.

      Analyze SPY free →