Bear Put Spread is employed when the Option Trader thinks that the price of the underlying security will go down in Near Term.
In this Strategy:
Buy 1 ITM (In the Money) Put
Sell 1 OTM (Out of the Money) Put
Buying a higher striking in-the-money put option and selling a lower striking out-of-the-money put option of the same underlying security with the same expiration date.