A note about cds  you arent necessarily looking for the stock price to stay below your short strike, many times it will move thru the short strike and you will still realize a nice profit. The cds is more about entering at less than 50% of the spread then if the stock price moves up you will book profits whether the short strike goes in the money or not. The short strike will still suffer larger time decay than the long strike gaining you a profit. If you think the price is going to go thru the short strike quickly then taking straight calls is a better trade but since we dont know that generally putting on a cds is about mitigating any loss in the event of a pullback or sideways move. In tese cases you can still ralize a profit on the cds when the straight calls would suffer a loss. I hope that gives you a better understanding of the logic behind choosing a cds

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