Put Time Spread	...or OTM Put Time Spread
	Position Type Strike Expiration Quantity Short Put OTM (-1) Near term 1 Long Put OTM (-1) Long term  1                     Example: Short 1 Aug 55 Put @ 1 1/16 Long 1 Oct 55 Put @ 2 3/16
Opinion: Bearish to very bearish
Description:
A Time Spread contains two options with the same strike price but different expiration months. In this example, OTM Puts are used because of the investor’s bearish bias. The ITM 55 Call could also be used.