### Comment:
Ok learn this once and for all. 
  
 Take the strike and amount of calls/puts and add like this. 
  
 Spy 318  (- 5 puts) 
  
 Spy 317  (+5 puts) 
  
 If you sell 5 puts (500 shares) x SPY at 318 = 159,000 
  
 if you buy 5 puts (500 shares) x SPY at 317 = 158,500 
  
 You take 159,000 - 158,500 = 500 
  
 Have you figured out max loss yet?

### REPLY:
Bro you are giving me too much credit. So OP sold 13 contracts so that’s 13 x $500 max loss per contract right?

### END.