Enter the higher strike put option and the lower strike price put option. The higher price put option will be sold, and the lower price put option will be bought. Since the higher price put option was sold, if the stock goes below that price, 100 shares of that stock will be bought at the higher price put option. If the stock goes above the higher strike price of the put option, the spread between the high price put and the low price put would be the profit. The high price put would expire worthless after selling it at a high price. The low price put would expire worthless after buying it a low price.
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