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I frequently do weekly calendars on SPY, IWM, and XLE since they have the one point strikes. Lots of flexible ways to trade around these.

Weeklys for stocks that trade for less than $10 makes no sense to me. Or for normally slow moving stocks such as GE and BAC. I guess the exception might be trading calendars on these. For example purchase a GE May 21 call, then sell weeklys against it for the purpose of lowering costs. Lots...

Anyone in here trade weekly calendars? I haven't put it down on paper just yet, but let's say buy an Oct SPY 110 call, then sell weekly calls against the long position. Obviously if SPY moves close to the 110 strike, maybe sell weekly 111 or 112 instead to allow for room for the long position...

Been burned by a strange open a couple of times. You think you are safe, and usually are, but those Friday openings can be a surprise when you check the account over the weekend.

You will win most of the time. But the one time you lose due to a huge gap up or gap down, it will wipe out your six months in a row of wins.

I just recently noticed the Weeklys on SPY, IWM, DIA. Going to make calendar trading much more fun and interesting.

Quarterlies are just another opportunity to bring in some premium. I never play them until the last week before expiration. Then I will try to sell premium on SPY, XLE, DIA, and IWM options.