Transaction costs are part of the equation and must be considered. As with securities brokerage, futures brokerage commissions range from "full service" to discount. A spread will likely be more expensive, but not necessarily twice as expensive, even though it is, in effect, two trades.
Read more: Effect Of Commissions On Gross Profits - Series 3 - National Commodities Futures | Investopedia http://www.investopedia.com/exam-guide/series-3/studyguide/chapter8/effects-of-commission-gross-profits.asp#ixzz4822nMWjD
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