The difference in value of two options, where the value of the long position exceeds the value of the short position.
See Also:
Debit: Money paid out from an account either from a withdrawal or a transaction that results in decreasing the cash balance. A debit transaction is one in which the net cost is greater than the net sale proceeds.
Spread: A trade in which two related contracts/stocks/bonds/options are traded to exploit the relative difference in price change between the two. A trading strategy in which a trader offsets the purchase of one trading unit against another.