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The good news about bull and bear spreads is that you can place the two parts of either spread on the same stock if you wish. You would have to watch for a noticeable difference in the strike prices. You might ask a broker about multiple strike price options, but you would still have to see that the prices are appropriate for the investment. This gives you more control over how your investment is to be laid out and used.
You do have the option to work with two separate stocks at a time when getting one of these spread strategies to work as well. The best way is to avoid staying with more than one stock. You need to use the same stock in the process so you have a clear idea of what to expect.
Bull spreads work for rising values while bear spreads are for falling ones, but it still helps to be cautious when seeing how two separate spreads are to be established at this point.
