STRATEGY EXPLAINER · 2:45
Diagonal Bear Put Spread (Poor Man’s Covered Put) Strategy Explainer Video
A Diagonal Bear Put Spread buys a longer-dated put and sells a shorter-dated put at a lower strike. When the long option is well in the money and serves as a stock substitute, this is commonly called a Poor Man’s Covered Put. It is a variation of the same diagonal structure, so both are covered in this guide.
