BelleWeather
OPJacob McCarthy
:
I started off speculating with calls and buying LEAPS on high conviction but inexpensive tickers. I have played around a bit with short dated and 0DTE calls on indices. Very rarely speculate with puts, but use protective ones (and callers.) Now I write calls against a portion of shares and LEAPS and puts when I feel high conviction stocks are beaten down. Very rarely naked calls as a way to short as well. Basically a mix of many strategies - whatever seems appropriate to market conditions. As a result I leg into and out of spreads as well (never open them at once.) I avoid earnings and both short and long strangles (conviction is key to my approach.) I also focus on shorting and longing IV as a hopeful added boost. My approach to deltas and other greeks varies wildly depending on the underlying and timing (though generally both buy and sell time.)
Jacob McCarthy : What type of strategy are you using for your options?
BelleWeather OP Jacob McCarthy : I started off speculating with calls and buying LEAPS on high conviction but inexpensive tickers. I have played around a bit with short dated and 0DTE calls on indices. Very rarely speculate with puts, but use protective ones (and callers.) Now I write calls against a portion of shares and LEAPS and puts when I feel high conviction stocks are beaten down. Very rarely naked calls as a way to short as well. Basically a mix of many strategies - whatever seems appropriate to market conditions. As a result I leg into and out of spreads as well (never open them at once.) I avoid earnings and both short and long strangles (conviction is key to my approach.) I also focus on shorting and longing IV as a hopeful added boost. My approach to deltas and other greeks varies wildly depending on the underlying and timing (though generally both buy and sell time.)
BelleWeather OP : Also, I write contracts to enter and exit positions I intend to hold (or have held) longterm, especially in high volatility.