In SPX pit rolls are done right before expiration to offset deltas which will expire, but is that the only place rolls could be done?
Technically it could be done in XSP electronically, but is it practical?
If that's too far out for you, why even bother with options? Just trade underlying.
What would people who just traded June/Sep put spread think of you...
When you speak of time value, think of it as an absolute value.
Which option loses more with time passing? Short or long term?
Of course short.
Think of it like this, short term options will lose most (time value is larger number) than long term option.
If you are starting out, with no exp., you're probably going to end up clerking for a while. Prepare to be frustrated arbing for months, and not knowing what's going on upstairs.
After that, I don't know what happens.
Actually, ctenisdead is Pankaj, for sure.
I know cause I met him back in 1998 in NY, while working for ETG.
This was just another soul in similar circumstances.
Who knew....