An investor buys a put with a higher strike price and writes a put with a lower strike price, both with the same expiration. This is a:

Why D — Bear put spread

Buying the higher strike put and writing the lower strike put creates a bear put spread (debit spread). The investor is bearish and profits when the stock falls. The higher strike put costs more, so the position is established at a net debit. Maximum profit occurs when the stock falls below the lower strike.