Hi all! I'm almost '0' in options trading, so need some advice from our community. I have a strategy that works only "long" and has around 67% profitable deals. Average profit 1.6%, average length - 3 days. Enter is on opening (first 5-15 min) and close around 3:45pm There is around 50% chance that first day will be down day. So I can buy not on open of the first day but on close (if it is red) and get almost the same result. The same because if the price goes up from opening it has higher profit. So I have an idea that 50% of the red day should be used for profit also and maybe the better idea here is to buy Straddle on opening and close put leg at the end of the first day (and maybe add more to call or just keep profit). Or buy put on open and underline stock (strange idea but who knows) But as I mentioned earlier, I have no experience in the options and I would like to ask: 1. which risks should I expect 2. which parameters should I use (Strike price, delta etc) 3. maybe there are some "useful" resources where I can find some helpful info 4. or maybe it is a stupid idea? Thanks!