Bearish Pair Put Spread Enabled
Setting key
bearish_pair_put_spread_enabled
Default
ON
What it does
Enables bearish pair put spreads as a structure for premium engines (mechanical, contraction). A bearish pair put spread is a defined-risk put credit spread positioned on the lower side, collecting premium with the expectation the underlying stays above the short strike. Used as part of the iron condor's put side or as a standalone spread when only the put side has rich premium.
When to change it
Leave ON. Turn OFF only if you want to restrict to pure iron condors and call-side structures only.
Safe range
ON or OFF.
Example
Market has a bullish lean. Contraction engine enters a bearish pair put spread on the bottom side only, collecting elevated put premium after a selloff.