A Bull Put Spread is an options trading strategy used when an investor expects a moderate increase in the price of an underlying asset. It involves selling a put option at a higher strike price while simultaneously buying another put option at a lower strike price. This creates a net credit to the investor's account, as the premium received from the sold put is greater than the premium paid for the bought put. The maximum profit occurs if the underlying asset's price stays above the higher strike price at expiration, allowing both options to expire worthless. The maximum loss is limited to the difference between the strike prices minus the net credit received. This strategy is often used in conjunction with other options strategies to manage risk and enhance returns.