I used to do it this but covered calls don’t have the leverage +...

I used to do it this but covered calls don’t have the leverage + i don’t really want to take a long position on a stock which i am bearish on


Under APT bear spread.. buy 150 contracts at $60 then sell 150 at $55 for july expiry

price for buy is $1.95 and sell $3.30


Break even $58.3
Max loss 25k
Max profit 20k

but a ridiculous commsec margin requirement of $144k!