My strategy involves trading Russell 2000 index options. A typical trade would be the purchase of an in-the-money call, for example: Index price=683 640 Call Bid 45.00 Ask 45.80 Since the multiplier is 100, the spread is $80. However, in my limited experience, I've been able to buy with a limit order just below the ask (say 45.60) and sell at a limit just above the bid (say 45.20), thereby decreasing the spread to $40. My question is this: Is there anyone out there who trades in a similar style who can tell me how much they can consistently cut the spread to? For example $80,70,60,50,40,30,20,10,0? Also, I realize the spread would be less with a futures contract or just owning the etf. However, I hold for several days and over many years I am concerned that a terrorist attack or other event could wipe me out, so I use options to limit my risk.