I have read the books but i wanted some practical feedback please. I am not a very sophisticaed options trader, i would simply like to use them most effectively for 3 to 5...maybe as long as 10 days speculative directional moves. Traditionally i have been buying slightly in the money calls and puts with about 1 month exp...not very successfully...for ETFs mostly. DIA, SPY, QQQ and the like. Due to the time value degredation, I am looking for confirmation that the best way for me to play this is to be as close to exp. as possible and slightly in the money? or is it better to be deeper in the money? I have noticed that the % change can be quite different..and i am thinking it is due to volatility? thanks.