I'm looking at straddles as a daytrade mechanism (sometimes only a few minutes in length, upto a few hours). I wonder, what are some characterstics / signals for the underlying stocks that you would look for to find candidates. I'm thinking of the following so far: 1) Price change over small time period (5 minutes) 2) Low implied volatility (is this good or do I want high? I'm thinking low for sure).. 3)? What other characters in combination for the underlying would suit?