Because of the volatility and wide bid/ask, it is hard to trade but not impossible. One way was to trade when the underlying was fast moving then it was easy to get ask when you sell, like GILD options this morning.
I got you no worries. I’ve never had more profitable week than now, even though spreads are wide. Sure it makes it harder, but then again the crazy volatility makes up for it, atleast the way I trade.
I have no problem trading illiquid options at near mid prices, potentially making market. Here are some UVXY calls I was just playing around day trading couple days ago, with $2-$4 spreads, just bought, sold, bought, sold, bought, sold - usually at near mid-prices and didn't pay attention to wide spreads: Today getting some great deals on SPX options I can't even show because I don't need competition. Though here is a small arbitrage I did couple weeks ago that is too good to be true, thanks to wide bid/ask spreads: (yes, an actual, pure SPX arbitrage is still possible in 2020 if anyone asks) Basically if you don't try then you simply won't know what prices you can get. While no one stops you from competing with market makers and helping other traders fill their orders. Complaining won't make you money.
Are you saying we can't believe the hype from TastyTrade and Options Alpha types...that Joe Sixpack with a day job can't amass a small fortune trading and managing 20-30 small positions...especially with insane volatility?
What you need is a 1.5T cash injection into the options markets to close spreads and grease the axle.
Completely disagree with OP. Having no problem getting filled mid market,and there is nothing better than wide markets with flow This is the enviorment where you can actually get significant edge
i think you need both. if you want to blitz them you have to. one thing i will say you need to think you can't lose much in terms of expected value. furthermore they sometimes dont help themselves with so-called hedging practices.