Optimum spread for max margin benefit

Hi!
Could anyone please help me on getting the maximum margin benefits how much spread should be considered while hedging in options selling?

Say, if I going for short selling Nifty Aug at strike price 11,500.00 which strike price would be ideal for going long for hedging to extract maximum margin benefit. (being the fact that we are going to loose the leverage very soon… So this is the only way we have to extract the benefit.)
Waiting for your kind reply.