bull spread means: Spread strategy for options and futures trading This is to take advantage of expected price appreciation. Buy to create a bull spread with call options Selling a call option for an asset at a specific strike price. Option on the same asset at a higher strike and same expiration dates. You can create a bull spread by purchasing a put option at a low strike price and then selling it at a higher strike. strike price same expiration date. The bull spread can be implemented less often by purchasing the nearest futures contract, and then selling the next one. (in Stock Market Dictionary)