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An spx four strikes wide Put Spread from at the money has a payoff ratio of 1 to 2 meaning if the Premium on the spread is \$10 your reward is \$20; yet the corresponding Call Spread with the same width from at the money have a payoff ratio of 1:1 and I know it's because of the skew on the put (downward) side.

But both have the same probability, it's like a Roulette table that pay 2:1 on black and 1:1 on red. So my question isn't this an edge for any one taking the Put Spread?

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Well, the probabilities implied by the market are not equal. If you believe they should be equal, then go ahead and express yourself in the market. The point is , it is not an objective fact that it must be 50/50- that's your subjective opinion.

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