A question on how to reduce the cost of high-priced options when you think the market will make a large move is answered. The high cost of buying an outright call or put option on many markets makes ownership quite expensive and in most cases a bad bet unless held for a short period of time. The vertical spread is the first choice in placing a bet on which direction the market will go. The next strategy to look at is the butterfly spread. The Fly spread lowers the cost of buying an outright option when you need more than three months until expiration. The ultimate goal of this spread is to forecast where the market will be at expiration.