01 — XLE · BULL PUT SPREADS

Best XLE 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.

Energy-sector ETF heavy in supermajors, with options flow tied to crude prices and OPEC headlines.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
Energy Select Sector SPDR
Sector ETF
XLE
$70.02+13.8% / 30d
IV rank (1y)
44.1% · moderate
Option vol
39K /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
$68.5/$66 put spread · Dec 4
34 DAYS · 2.2% OTM · 3 WIDE · SELL TO OPEN
Credit
$82
Return
48.81%
PoP
62%
SpreadExpirationCreditReturn ↓PoP
$68 / $65.5
2.9% OTM · 3 wide
Nov 27
27 days
$74
$0.74 / share
42.05%67%
$68.5 / $66
2.2% OTM · 3 wide
Nov 27
27 days
$71
$0.71 / share
39.66%63%
$68 / $65.5
2.9% OTM · 3 wide
Dec 4
34 days
$66
$0.66 / share
35.87%65%
$67 / $64.5
4.3% OTM · 3 wide
Dec 4
34 days
$64
$0.64 / share
34.41%71%
$67.5 / $65
3.6% OTM · 3 wide
Nov 27
27 days
$59
$0.59 / share
30.89%68%
$66.5 / $64
5.0% OTM · 3 wide
Dec 4
34 days
$59
$0.59 / share
30.89%71%
$67.5 / $65
3.6% OTM · 3 wide
Dec 4
34 days
$58
$0.58 / share
30.21%68%
$67 / $64.5
4.3% OTM · 3 wide
Nov 27
27 days
$35
$0.35 / share
16.28%73%
$55 / $54
21.4% OTM · 1 wide
Dec 4
34 days
$13
$0.13 / share
14.94%70%
10 of 10 matchesCustomize filters →

03 — Strategy

Bull Put Spreads, plainly explained

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

P&L at expiration · $68.5/$66 put spread · 34 DTE

$0+$82−$168$66 LONG$67.68 BE$69 SHORT

Key numbers

Premium collected+$82
Max profit+$82
Max loss−$168
Breakeven$67.68
Spread$68.5 / $66
Probability of profit62%
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 XLE.

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

      Analyze XLE free →