I've recently been experimenting with these and have had some good success with my options trading. Trying different strikes with different expirys. Going to try it on on a few earnings plays this week and see what happens. glta...
Options Strategy Guides https://www.elitetrader.com/et/thre...ou-like-post-it-up.356297/page-6#post-5355388
I wouldn't recommend DTEs the day after earnings (like a lot of people do), especially if you're selling options - not enough time to recover and it's harder to adjust if it goes badly.
With respect, what is the point of this thread? You give no information at all about the specifics of the trades - nothing around DTEs', the IV at the time of the trade open, the expectation, the type of stock (high IV or low IV). And if you are trying different strikes, then you are trading strangles, not straddles. No one is asking you to give your secret sauce (if there is one), but vague, general statements are not going to get you much commentary. I'd love to give some positive and helpful feedback, as would many others, but for us to make a valid contribution, you need to provide us with something to go on. It's like me saying "I've been trading calendars for a while and I've had good success, and I'm going try it on some of the earnings." See what I mean?
+1, with this addition: posts like this always make me slightly uneasy for the OP. They have an air of "hey, I'm trying this random thing that I don't understand - and look, it's doing some cool stuff!" That might be more or less OK with risk-defined strategies, but if the OP is writing straddles without proper risk management, there's a hell of a lot of pain in his future.
Where did I say that I did't understand them? I may have got the terminolgy wrong with different expirys and strikes but I do know how they work and yes, I do have entry and exit strategies. Been trading options for quite awhile.