Schwab does not display 5 min option charts, that is why I said in general you maybe able to use 5 min underlying chart as a proxy for option movement. But not always true due to IV, delta, gamma, especially for very short DTE options.
i am a dumb retail, kept things simple, just bought single leg calls. By the way, in this case you won't profit if you bought a straddle. Check it out yourself.
Yeah, I tried that for a year ( in my search for strategies I liked). I had a 70% win rate, but my overall PnL was flat
Been there done that until I realized it was like in a coin flip, it worked if the coin was bias but if it was and I could research the direction, better to bet on head or tail instead. Any risk-transfer or hedging always costed me something.
Exactly, I don't know if it's wise, but I'm not as delta neutral as some people teach. My thinking is if risk is only to one side, I can watch the at risk side like a hawk and immediately close out losing positions if necessary. My biggest fear is liquidity and nobody on the other side of the losing position