 Welcome to course 5 on the intermediate option strategies. In course 5 we are going to look at the bull put spread. So like the name suggests this is a bullish spread using puts. We know that in general a put is a bearish instrument. So if we are going to use it as a bullish strategy then we must be selling the put instead of buying the put. And that's exactly what we are doing. So this is similar to a short put. If you recall we did the short put course on Goldman Sachs. Similarly what we are going to do here is we are going to put a bull put spread by looking at Google. So let's look at Google. Look at the June series and see what the options are. And if we were to sell a put then we need to go out of the money on the put side because we want to put probability on our side. So I would look at what a 15% probability is 15 to 20 maybe a 17% looks okay. There's $5 premium $5.40 over there. So if we were just selling this put then what we would do is click on the bid price. So Google is trading at $6.09 right now. That's about $50 away from the Google's current price. And for this put we are going to collect a premium of $5.20. So let's look at the risk profile of a short put first and we can see that this is exactly what a short put would look like. We've got limited profits on the upside and on the downside we have unlimited losses. So again the philosophy of spreads what we want to do is to limit our losses. So this is going to be a credit spread because your dominant option is going to be the $5.60 put. So in this case if we wanted to limit our losses what we would do is perhaps at the $5.40 strike price we would buy a put. So here we get credit here we have to pay if when we buy since the $5.60 is the dominant option our net position will still remain a credit.