The point not mentioned in this thread yet is who is your competition? Who's on the other side of your trade? Penny stocks it's probably some retail 'investor' who read about it on some pumper site and barely knows how to enter an order. The other side of your options trade is a professional options market maker or arbitrage trader. Where will it be easier to spot an exploitable edge? I'd rather try to wrestle money out the hands of the newb than the shark.
Bet more money is made by retail penny pros than those swimming with the big fish. There are plenty of pikers trading aapl.