How to do a put credit spread in Robinhood

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Издатель Dec 23, 2025

A put credit spread (PCS) is a way to make money in the options market by getting paid if a stock simply does not crash. It works like this: a trader sells one put option at a higher price level (the short put) and buys another put option at a lower price level (the long put), both on the same stock with the same expiration date. This creates a “spread” and brings in cash upfront, called a credit. That credit is the most the trader can make on the trade. The basic idea is that as long as the stock stays above the higher strike price by expiration, both options expire worthless and the trader keeps the full amount of that credit.

The risk is also limited and clearly defined. The most a trader can lose is the distance between the two strike prices minus the credit received. For example, if the strikes are 100 and 95 (a $5 wide spread), and the trader collects $1.50 in credit, the maximum loss is $3.50 per share, or $350 per spread, while the maximum profit is $150. This makes a put credit spread a structured, professional way to express a mildly bullish or “the stock probably won’t drop too far” view, with both the potential reward and potential loss known in advance.