bear spread study Sell GOOG Feb08 570 => (18 - 23.7) = -5.7 (debit) Buy GOOG Feb08 630 => (62.1 - 47.8) = 14.3 (credit) Net = 14.3 - 5.7 = +8.6 [8.6/(47.8-18) = 28% gain] additional profit = 18.9 - 16.3 = 2.6 if close both positions yesterday [37% gain] <img src=http://www.fotothing.com/photos/us/10111.gif> <img src=http://www.fotothing.com/photos/us/9703.gif>