I'm a huge fan of spreads (mostly debit spreads, but some credit spreads). However, I pretty much had to stop using them in client accounts. One reason is that they are difficult to size correctly unless account size is large (with the relatively large average PPS these days). Also, when market crashes (happens regularly with the Fed juicing everything these days), it is very difficult to explain that the exploding vol is making the account look much worse than it really is (unless forced to liquidate before expiry). I definitely still use them in my personal accounts. Almost exclusively. 

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