Best options strategy to avoid time decay?

What is the best options strategy to avoid time decay? I'm looking at things like a 1-2 years call options. Thanks!

 

use a calendar spread

 

Buy deep ITM calls. Example:

AAPL Jan 2014 240.00 calls
http://finance.yahoo.com/q?s=AAPL140118C00240000

 

and pay crazy premium ?

why not buy shares instead

 

You mean the bid/ask spread? I don't think it's "crazy", but we will have to wait till the market opens - Yahoo finance clears all that data around midnight EST.

The 240 calls will move dollar for dollar to AAPL.

 

Right.

 

With a DITM call like this, it has a delta close to 1 so it should move like the stock but costs less, i.e. ~$36,000 for 1 call vs ~$60,000 for 100 shares of AAPL.

 

Yes but was referring to the cost of the spread.

 

what about warrants? there are some without time decay.

 

Since a warrant is basically a call option I don't see how it can avoid time decay. If I have a FOO warrant at a strike of $10, and FOO is currently at $5, the market will clearly pay more for the warrant if it expires in 3 years than if it expires in 2 months.