Bull Put Ladder Calculator

Search a symbol to visualize the potential profit and loss for a bull put ladder option strategy.

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What is a bull put ladder?

High VolatilityLimited ProfitLimited Loss

A bull put ladder is an extension to the bull put spread, as it now includes another long put. The name suggests it is a bullish strategy, but it is actually bearish or bullish, since it has a nearly infinite gain on the downside, and a capped gain on the upside.

This strategy requires significant volatility to be profitable. Time is harmful when the position is unprofitable, but helpful once it becomes profitable.

(also known as: Short Put Ladder)
ABCProfitLossStock Price (at expiration)
  • Buy a put at strike A
  • Buy a put at strike B
  • Sell a put at strike C