A fellow I am aware of does short strangles on V on a weekly basis. He typically has a $10 spread between the two strikes with the underlying in the middle. For example, V is at $175 right now, so he'll sell a $170 put and sell a $180 call. He usually initiates these on a Monday or Tuesday. I am fond of this setup, however, the problem is I don't have enough spare cash in this account to cover the put side. So I'm curious, does anyone do such short term trades using options and if so, what strategy do you use?