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No offense,but you both are off the mark,but to each his own..

LOL@ "Especially trading vols"..

Risk reversal/collar,a bit of initial skew risk, probably flat vega to start,flat theta.. Still don't get your infinite roll scenario,and have a hard time believing that strategy outperforms the underlying except in a down market..

Does not compute :) Long the 6 month ATM call,goes against you,I'm assuming you roll out and quite pissibly up? Then you turn a naked long into a vert/ ratio?? P.s. I see you edited

101 percent agree if long gamma.. Short vol,not as much,and I am simplifying.. With that said,you are spot on regarding the directional component..But easier said than done

Full disclosure, backtesting,not doing.. Buying calls.. Have to go back and check to see if I used a stop

You should be asking if options offer any advantage to trading the underlying.. By and large,I agree with what you are saying,in particular 0-3 day options.Its the only "strategy " I have backtested that significantly outperforms... Fwiw,Tos would not be my backtesting tool of choice. Look at...

is there anything worse than fat fingering a trade??

I was all in until the next thread I came across,by none other than Mark Brown :) Unleashing the Power of Contrarian Trading

Max profit is a little tricky as its not a straight 1x2 as he short the 600 calendar You can ballpark his max profit come Jan expiration but implied will play a role... hes going to lose below 320 as he paid a debit and the shor 12 calls will have some value If it explodes (1000) hes going to...

Check out this thread,and others by Dustin https://www.elitetrader.com/et/threads/everyday-expirations-coming-to-the-spx.364748/

Read the article,and look before you leap

IMHO,that applies to life... With that said my Basketball coach would say,"sometimes it's better to be lucky than good"...

There must be study material on their website.. Any particular reason you are looking for PM?? im almost always short vol in large caps/indicies,so it works for me..

Arent you a price action guy??

They knew the expectancy too well,they didnt know leverage well enough

It was a quote from William Eckhardt,Richard Dennis partner (Turtle Trading).. Case in point,OTM put sellers

Tenor= Expiration

In today's efficient market,there is no vol difference between a put and call for the same strike ..Thats basically put call parity in a nutshell If there was a difference,you would put on a conversion or reversal,depending where the disparity lies. I think you refer to strikes above the spot...

Good old ROA vs ROE..Watch out for that sneaky leverage :)