Rapidex, I had a look at your trade and indeed you are supposed to be getting $1000 credit 50*((0.30 - 0.10)*100).
I understand that this is a paper trade and maybe you just wanted to test the system, but in case you were really thinking of making such a trade I want to make several points. (No offense please):
1) If BVF price stays above 15 you will make $1000 but you are risking losing $11500 (if BVF drops below 12.5). I looked at the chart of BVF and it has been dropping heavily since 16 July so a drop below 12.5 is very possible.
2) The option prices shown on the image are not real because at the moment I am looking at my Interactive Brokers screen and it is showing Oct 12.5 put (0.06-0.15) and Oct 15 put (0.26-0.39) so the credit will be 0.11 and not 0.20. I think that for such cheap options the bid and ask spreads are too wide.
3) Keep also in mind that the trade will require margin of $12500
Thanks VolatilitySmile. You are right on this. It would be a dangerous spread.
I'm unsure how to learn the ropes by paper trading though. It seems you have to buy some sophisticated software and subscribe to some costly services to actually learn this game.
BTW, the reason I placed this trade is because Morningstar just upgraded it to 5 stars - but still learning.
Rapidex,The bull put spread (credit spread)is an excellent strategy,if your technical analysis is reasonably good it is a high probability trade with good staying power if your analysis is somewhat wrong and if you are looking to learn more about this strategy you might try Paul Wise at Options 21,I did his course and it wasn"t till then that the light came on for me trading options
A volatile move down can be most uncomfortable also before you even have a chance to manage.
A reasonable enough strategy in the right conditions but should only be one card in the deck, not the only card in the deck as it is being taught various clowns.