How does this tricks work for Successful trading?
The trick works by making the Greeks work for you but not against you like Theta, Delta, Vega.
How to make a Trade on Options based on Trading day
Highest decay in Option premiums happen closer to the expiry.
For weekly options
- On Start of weekly options say Friday and Monday you can look for buy strategies with limited risk and limited reward using the Option strategies like Bull Call spread etc.. based on market outlook. Or even long iron condor if you anticipate a huge movement on any side. Long straddle and Long straddle can also be used.
- On Towards end of Week that is Wednesday