Wouldn't the reasonable "play it safe" move while accounting for IV be to buy bull calls spreads?

Let's assume NFLX closes at current price, ~$342.80.

Let's say NFLX jumps up 8%, so it goes to $370.

Let's say you bought some $345 calls for 10/19, each contract was $1595 ($15.95), so basically $360.95 breakeven. Each contract at $370 would then be worth $2500 or a 156% return.

If you did 350/360 buy/write bull call spreads, each would cost $455 (plus fees if you got em) with max gain of $545, so a return of 120%. Not as good as straight calls, but same breakeven point, and much lower cost to enter.

You could do 342.5/352.5 bull call spreads have a much lower breakeven of 347.60, cost $510 per contract and return $480.

Of course long calls are the shit and if NFLX flies to $380 these spreads will make you sick looking at what happens, but then again you escape “IV cruuuush” and all that jazz.