An investor purchased a put option and at the same time wrote a put option at an exercise price lower than that of the long put option.The strategy is known as a:

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This strategy is known as a put bear spread as it involves buying a put option and selling a put option with a lower exercise price. It is a bearish strategy as the investor expects the underlying asset to decrease in value. The maximum profit is limited to the difference between the exercise prices of the two put options, while the maximum loss is limited to the premium paid for the long put option.

An Investor Purchased a Put Option and at the Same