Debit Spreads Debit spreads are an advance option strategy which requires a level 3 approval from your broker. A basic debit spread is a combination trade of buying (buy to open) and selling (sell to open) an option at the same time of differing strike prices but same expiration. A debit spread can be done with calls or puts. A debit spread with calls is bullish and is referred to as a bull call spread. A debit spread with puts is bearish and is referred to as a bear put […]