Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Why buy a vertical spread if I could instead buy a naked call?
Figured it out.  Vertical spreads significantly reduce the amount of "buying power" on the account needed vs. buying / selling pure calls / puts.  So even though the transaction fees may more double in some instances, it may be worth it in order to operate with pricier underlying instruments. Spreads are also considered "defined risk" trades where both the profit and loss are capped per how the spreads are setup.  This is compared to single calls / puts where either the upside or the downside can be unlimited.  So for times when the expected move is not as pronounced, a spread may be a better fit depending on environment and other factors.