Advantage of Spreads vs Vanilla?

Discussion in 'Options' started by MasterGambler, Jul 19, 2012.

  1. What is the advantage of using spreads vs just deciding upon a strike and buying those puts/calls for a move?

    I don't get what the advantage is of buying say three calls at three different strikes vs just buying three calls at the middle strike of those three...

    Personally I prefer 1ITM or 1OTM. If playing weeklies I always stick with 1ITM or very close to that.
  2. Just use single strikes... Follow the rule "Keep it simple stupid."