Is it possible to lose money for bull put spread even if the stock goes above the higher strike?

All,

I want to check my logic so that I am not missing anything. I opened the bull put credit spread for AMD 110/115 @2.45 June 20; If my understanding is correct, if the stock stays above 115 then the max profit is the credit that I received which is $2.45; What I am a bit confused is that AMD is inching closer to 115 but I am losing money. When I opened the trade, AMD was around 112. Now it's moving close to 114 but my P/L shows that I am losing. I have some ideas why this might be happening but I am not entirely sure. I was under the impression that I will be making a profit as its getting close to 115 but it has not been doing what I was expecting. Any thoughts? Is it because my exp so far out that theta hasn't kicked in or IV (+40%) is just too high for this type of spread? Can someone give me some clarification where my logic has a flaw?