I am working on bull put spread. Currently the spot is way below both the strike prices. So one strike is deep in the money and other is in the money. Net position delta retrieved from Bloomberg for this strategy is negative. But as per my understanding net delta of bull put spread will always be positive. Is it possible
All else equal, a put with a higher strike will have a more negative delta than a put with a lower strike. If an investor buys a high strike put and sells a low strike put, it is a negative exposure to the underlying.
Options trading can be risky and can cause significant losses. Options trading is not appropriate for some investors. The above is not investment advice and should not be relied upon for an investment decision.