Hi Prevail, How does the cost of the backspreads deducted from sold Option premium, produce an enhanced return assuming backspreads was done at a debit, otherwise the spread between the sold option and the additional bought hedging option would be large producing an uncovered area. Most Options sellers that I know produce income from the premium, not trading direction! Speaking for myself I've always had trouble with the concept of selling something that I believe will increase in value whilst trying to avoid Black Swans! I therefore prefer Spreads whilst trading direction. I'd be interested in other peoples experiences when trading Backspreads. Best Regards Johno