Bear spread

In options trading, a bear spread is a bearish, vertical spread options strategy that can be used when the options trader is moderately bearish on the underlying security.Because of put-call parity, a bear spread can be constructed using either put options or call options. If constructed using calls, it is a bear call spread. If constructed using puts, it is a bear put spread.
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Applies to derivative products. Strategy in the options market designed to take advantage of a fall in the price of asecurity or commodity, usually executed by buying a combination of calls and puts on the same security at different strike prices in order to profit as the security's price falls.

Sale of a near month futures contract against the purchase of a deferred month futures contract in expectation of a price decline in the near month relative to the more distant month. Example: selling a December contract and buying the more distant March contract.