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THANK YOU to all the respondents. VERY useful. I did indeed mean what trefoil has put below. Forgive me for not being clearer. Very succinct and understandable answers, thank you. P

Just beginning with options so if this is too basic for this forum, please bear with me. (I have been trading stocks for 20 years or so, but am about 6 months new to options.) A 2 part question both to do with basic bull/ bear spreads: (1) What's the (dis)/advantage to a debit spread when...