Absolutely agree, max profit is realized at the expiration. Also, there are reasonable break even points as well. Goal is to have a trade for 3 months, and try to average 30% return, on a diversified portfolio of course.. Regarding "If the spread costs $2.40 then the maximum profit is $2.60"... Since you are saving 50% on the loosing leg, your losses are trimmed... basically your put $1.2 to make $2.60,,, MY BAD, thanks for noticing it..