Why not use put spreads?  Well, remember that one of the anomalies
we're exploiting is the overpricing of puts.  We're selling the
overpriced put.  If you turn around and buy an overpriced put to create
a spread, that would be the opposite of what you're trying to achieve.
That said, we do have customers that we know of who do convert put sales
into credit spreads on their own.  No reason you can't do the same.

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