Hello folks, That gamma scalping is no panacea has been made abundantly clear by the numerous threads on the topic in this forum. By the same token, I've traded enough long straddles to appreciate the potential merit of gamma scalping, having witnessed profit mount today, dissipate tomorrow, accumulate again Thursday morning, dematerialize by the close, etc. Assuming for a moment that the philosophy of gamma scalping is valid and worthwhile, what is your preferred strategy for taking advantage of long gamma, with the intention of scalping? The straddle is the main strategy used by scalpers, it seems, but is it the best? Are there alternatives that afford a better ratio of gamma to theta? Take a short calendar spread, for example: + 1 PFE DEC10 17 Call, - 1 PFE JUN 11 17 Call. Net Gamma is 28.3 and net theta is -.36. Gamma/theta is -77. A straddle of PFE DEC10 17 has a gamma of 85.67 and theta of - 1.25. Gamma/theta = -68, which, while a good price for the gamma, is still higher than in the short calendar. Putting vega aside momentarily, wouldn't the calendar actually be a better deal, if the goal were to play the long gamma? Moreover, short calendars generally do seem to offer more gamma for the money than straddles, in my observation. Short calendars are just one example of an alternative. There are obviously numerous structures that yield positive gamma while starting off delta neutral: short butterlies and condors, backspreads, wrangles, various diagonals and double diagonals, short calendar straddles and strangles, and so on. I imagine there are even more structures than those. It gets a little daunting trying to sort through them and figure out which would lend itself to gamma scalping the best. Vega must be taken into consideration, of course, and ideally we could find two optimal structures that could each be used for gamma scalping, one long vega, the other short vega. Thus, we could choose the strategy corresponding to our outlook for the underlier's future IV. Thank you very much for your consideration of this question! I have learned a great deal by taking these sorts of polls here on ET. Hopefully the topic will prove edifying for other readers as well!