Debit spread

Uno spread che apri per un debito netto — paghi il premio in anticipo e vai in profitto se il titolo si muove nella tua direzione.

A debit spread is an options position where you buy one option and sell another of the same type (both calls or both puts) with the same expiration, and the option you buy costs more than the one you sell. You pay a net premium up front, which is your debit and also your maximum loss. Traders use it when they have a clear directional view but want to cut the cost of a plain long option and cap the impact of theta and volatility.

A simple example: you think a stock at 100 will drift up to 110 over a few weeks. Instead of buying the 100 call outright, you buy the 100 call and sell the 110 call. The short call reduces what you pay, so your break-even is lower and your loss is smaller if you are wrong, but your profit is capped once the stock passes 110.

The common mistake is treating a debit spread as unlimited upside. It is not. You are trading away the big tail move for a cheaper, more forgiving position. Pick the short strike near where you realistically expect the stock to land, otherwise you cap your gains for very little premium in return.

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