Example: Today Friday - sell 1 ES put at the money that expires next Friday Next Friday - if out of the money, premium is pocketed and repeat. if in the money, you will be long, so sell 1 ES call in the money that expires next Friday. Following Friday - if in the money, your 1 ES position will be called away, so sell 1 ES put at the money that expires next Friday again to start over. if out of the money, sell 1 ES call again for next week. Anyways, you get the idea. Do the more experienced options traders here have an opinion whether the gain from capturing the decay every week would outweigh the loss from holding the ES contract?