<p>A <a href="https://unusualwhales.com/option-strategies">spread </a>is a type of options strategy in which the trader simultaneously buys or writes different options of the same type (call or put) on the same underlying asset, but with different strike prices and/or expiration dates. Not to be confused with the bid ask spread.&nbsp;</p><p>The term spread by itself is quite vague. A spread can be opened via a credit or a debit. In other words: some spreads require a debit to open (a debit spread), whereas other spreads may provide the trader with a credit (a credit spread).</p><h2>Related Articles</h2><ul><li><a href="https://unusualwhales.com/information/what-is-a-long-strangle">What is a Long Strangle?</a></li><li><a href="https://unusualwhales.com/information/what-is-a-long-straddle">What is a Straddle?</a></li><li><a href="https://unusualwhales.com/information/a-deeper-look-at-long-straddles">A deeper look at long straddles</a></li><li><a href="https://unusualwhales.com/information/what-are-greeks">What are Greeks?</a></li></ul>

What is a Spread?

Trade Codes

The bid/ask spread and how it affects options buyers and sellers

Descending Fills

Ascending Fills

How to Harness Unusual Whales Screeners for Faster, Smarter Trade Ideas

Open Interest Change Feed Breakdown

13F filings: what are they, who needs to file, and what can be gleaned? 

Options Strategies for High Volatility

Breaking Down Flow Alerts

More Unusual Trading Before Trump's China tariff Pause, IT HAPPENED AGAIN. Flow Review 5/12/2025

Options Screener Breakdown

How To Use Top Net Impact And Market Tide Together For Market Sentiment With The Server-Level Discord Bot

Use Avg 1D RV Post Earnings In Market Map To Instantly Find Trade Ideas

Spot Hidden Trading Opportunities By Using The Market Map To Find Extreme Conditions

How To Check Your API Usage

The Discord options_screener Command Step-by-Step and How To Spot Institutional Option Trades With It

How to Plot the 0DTE Straddle Breakeven Prices on Your Periscope Chart and Why You Should Care

Earnings Date Differences Explained: Gaining Confidence in Your Unusual Whales Data

Delta Airlines $DAL Unusual Options Activity Lookback

What is the ETF Overview?

How to Fix 404 Errors when Using AI Tools with the Unusual Whales API

Theoretical Value

Book Value

Market Capitalization (Market Cap)

Mutual Fund

Par Value

Volatility Index (VIX)

Price-to-Earnings Ratio

Yield Curve

Value Stock

Treasury Note (T-Note)

Treasury Bond (T-Bond)

Treasury Bill (T-Bill)

Stock Split

Short Selling

Short Interest

Risk Tolerance

Revenue

Recession

Synthetic Short

Synthetic Long

Synthetic Position

Over-the-Counter (OTC) Market

Money Market Fund (MMF)

Stop Order

Market Order

Limit Order

Interest Rate Risk

Periscope FAQ

How To Interpret Periscope Net Gamma Exposure

Quick Custom Alert Presets

Institutional Investor

Retail Investor

IPO (Initial Public Offering)

Hedge Fund

Growth Stock

Futures Contract

Fundamental Analysis

Technical Analysis

Float

Short Squeeze

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Probability of Profit (POP)

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