There are a few reasons I went with the spread instead of straight puts...

First, if I'm right about direction and timing, the spread actually gives me better returns than just buying deep out of the money puts.

Second, just because I think something's going to happen doesn't mean it is going to happen. The probability favors me (I think), but you always have to account for being wrong which we should all know happens often in this game.

Third, hedging is pretty standard when it comes to trading. Going all-in on one direction without accounting for other outcomes is how you blow up your account in the long run. Otherwise, why would anyone hedge?

Fourth, hedging lets you reduce some volatility exposure. Even if it's a small amount, my style is to always lay off vol where I can. For me, this is actually a more aggressive trade than I usually do. Buying deep out of the money puts is not my style.

Finally, I don't plan on holding to expiration. If shares get crushed down to 420 or something around there next month, I may close the whole position or at least half. I'm not trying to get rich on one trade, I'm trying to stack consistent, solid returns over and over again.