I am trying to get some discussion on how to maximize or minimize the effect of time decay when you have accurate market forecast. It is best to illustrate with an example. If XYZ is trading at $100, and you forecast that it will TOUCH $105 or $95 within 4 weeks, but you are not sure when it will do so during the next 4 weeks, and you short a butterfly or buy a strangle. if XYZ touches $105 or $95 one minute before expiration, your short fly may be profitable but strangle may not be; on the other hand, if XYZ touches $105 or $95 one minute after you opened the trade, your short fly may still have a paper loss and the strangle a paper profit. The question is, what can you do to best benefit from your market forecast and reduce the adverse effects of having or not having time decay? Thanks.