I'm mostly referencing ETF's because they protect on short trading against company buyouts/ a good amount of liquidity and volatility depending on the given ETF. So my question is, for speculative trading purposes, not investing, are there any real advantages to trading an ETF's option vs the underlying ETF itself if I had no desire to ever own it at expiration. nor write any naked contracts? Just referring specifically to 'buying to open' and 'selling to close' trades. Seems there are more disadvantages with time constraints/ decay. Would appreciate any insight others might offer thank you.