# Series 7 Exam Prep 47, Options Spreads

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-47-options-spreads
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-47-options-spreads.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-07-24T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-7-exam-prep-47-options-spreads
Audio file: https://episodes.captivate.fm/episode/df852c2c-d527-4566-8a0d-c91c0ec21113.mp3
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JSON: https://stenobird.com/v1/public/podcasts/open-exam-prep-7140559/episodes/series-7-exam-prep-47-options-spreads
Duration seconds: 197

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How to identify a spread as a debit or credit and its implications for max gain and loss. - The method for determining if a spread is bullish or bearish, even without given premiums. - Step-by-step calculations for maximum gain, maximum loss, and breakeven for both call and put spreads. - The difference between wanting a spread to widen versus narrow and its relation to exercise or expiration. - A mnemonic to easily remember the desired outcome for debit and credit spreads. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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