Hi Jill: Yep, I still think the best way to play options is ITM and 3-6 months out. That gives you time, which you need. The swings on options can be significant, as you know. If you have stops in, the swings will eat you up.
I think a big factor is whether you are trading them versus doing more like a swing trade. If you are simply trading short term, hey, go with futures or SPX options! Otherwise, leg into positions, let that time work for you. Now, I've said countless times, however, if that position turns against you, and that underlying looks like it's going the other way, i.e. daily chart, then get out. Close that position out and run.
If I'm purely going to trade an option, like daily or for a couple of days, I'll trade SPX options. Put the chart on 30 mins and count coins.
I had posted on here awhile back as I was adding to June and July calls in PAAS, MHR and PTR. All doing good for me.
Hope all is well your way, Jill!
RR |
