Question: How spread can be used as a options hedging strategy to reduce options hedging costs while being able to maximise profits ? < <

How spread can be used as a options hedging strategyto reduce options hedging costs while being able to maximise profits?<<<==== the bolded words has to be answered in details

(Have to include Bull spread, Bear spread and butterfly spread)

(Required to elaborate more) on strike price at the money, in the money, out of the money , to buy and sell at which strike price provides the greatest profit while being able to reduce the cost of hedging

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