A Bear Put Spread is a strategy designed for investors with a moderately bearish outlook on the market, expecting the underlying asset's price to decline. This strategy involves purchasing an "In-the-Money Put Option" (higher strike price) and selling an "Out-of-the-Money Put Option" (lower strike price). Both options must have the same underlying asset and expiration date. The investor incurs a net premium because the cost of the higher strike put (purchased) exceeds the premium received from selling the lower strike put. The main goal of this strategy is to reduce the overall cost and breakeven point compared to buying a standalone put option, while still benefiting from a decline in the underlying asset’s price.