What is Bull Spread?

A spread strategy used in options and futures trading thatis designed to capitalize on expected price appreciation. A bull spread using call options is created by buyinga call option on an asset with a certain strike price and selling a calloption on the same asset with a higher strike price (same expiration date). A bull spread with put options is created by buying a put option with a low strike and selling a put option with a highstrike price (same expiration date). Less frequently, the bull spread is implemented by buying the nearby futures contract and selling the next out contract.