Ok, obviously I am buying lower strike put and selling higher strike put. What is the recommended volatility and greeks to consider in my trade?
- Average volatility between both legs?
- Long volatility minus short volatility
- Average Delta/gamma/theta/vega between both legs?
- Long Delta/gamma/theta/vega minus short Delta/gamma/theta/vega?
I think option one for volatility and option two for greeks. Any thoughts?