Ok, i compared the put spread and the call spread on the calculator and on optionstrat .If the stock went from 1825 to 1800 on the day of exipry, your position goes from max profit to max loss.
There's nothing inherently wrong with that spread and has the pluses you call out. However, it doesn't return much in the short term. And in the situations where it does, other positions have better returns.
Alternatively, you can do a put spread for a credit and recieve premium now which the account needs to keep to cover the $2,500 at risk, but you can use some of that to buy other positions. Like 2 shares of TSLA which would gain an additional $1,800+ if the options expire OTM.
TSLA Put Spread calculator
1. The puts BOTH have much lower volume , lots of them have volume of 0 !
2. Profit seems to be 100% , vs 3300% on the call spread.
3. Lets add in the additional 1800 : still about 200 % vs 3300 %
What am i not seeing mongo ???