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A trader creates a bear spread by selling a six-month put option with a $25 strike price for $2.15 and buying a six-month put option
A trader creates a bear spread by selling a six-month put option with a $25 strike price for $2.15 and buying a six-month put option with a $29 strike price for $4.75. What is the net payoff per share (enter 4.00, not 400, for one spread - the gross payoff of the spread minus the cost of the spread) when the stock price in six months is $23? Please enter your answer as a number with two decimal places (no dollar sign), and include a negative sign if it is a loss.
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