Quote from atticus:
I wouldn't. It's for suckers.
Suckers who like premiums!I want the daily decay , it is too tempting to not get sucked into.I want to take option premium when market is stuck in a range on a daily basis.
The best I get into skimming the spread at I G is -2 per leg, so I am still paying 2 *10 = 20 pips on a butterfly middle 4.I skim the spread by waiting for a move towards higher prices , before selling call or puts .On buying the spread is skimmed by waiting for lower prices , sometimes I get caught if I buy first , so I always sell first .
The daily options have big decay and 80 % of the time the market ranges, so I look for ranging opportunities ,or directional days , but I get clobbered with sudden unexpected moves.
If I moved to interactive , how much more spread can I skim on the weekly options?