D1 is the place to be. You can probably make a decent living with 10% of the stress by simply buying daily NHs in small size, 30-50 names, and simply cover when they hit say their 1/2 straddle figure (optionomics alpha). 2019-2021 I had my best notional return by trading D1. I would often turn it into a vol-position (D1 -> synthetic -> wings) but it was an 8-figure run of stock picking and beta in shares. If you're any good at direction and don't understand convexity moments (gamma, dgamma, etc.) then you're actively doing harm by trading vol.
My name is max. Maxinger. I tried trading many things under the sun and moon. I tried trading index/stock options, US/Japan/Sgp stocks, futures, CFDs, spot forex swing trading, day trading, investing, outright, inter spread, intra spread, vertical/horizontal/diagonal spread ..... After many years, I decided to day trade index/commodities/metals/bonds/currency futures only.
How many years did you trade 'em? Do you know the greeks and the intermarket type stuff? Do you know any financial mathematics? Besides the decay, what else do you hate about options? Thanks!
I basically asked the same question... If you are a directional trader,you really dont need to go thru the financial mathematics.. But you do need a disciplined systematic approach,and it all starts with being a decent directional trader. My guess is if I asked the OP to choose between a position in the underlying vs a delta equivalant/dollar equivalant position in a Call, Call spread , B-Fly type structure, or Risk Reversal he would be hard pressed. And for the record,I do believe 90% of directional traders should stick to the underlying