When to Use In the Money Short Vertical Spreads

Our standard approach for selling vertical spreads is to choose <a href="http://ontt.tv/29tN7L9">out-of-the-money</a> strikes. This makes sense because it allows us to take advantage of short premium, while also increasing our <a href="https://ontt.tv/uGatH">probability of profit</a>. But is there ever a time when a short vertical spread with in-the-money strikes should be considered? Yes, and as we see $LOW earnings coming up tomorrow morning, an upcoming earnings announcement can be a great time to use this strategy