best options strategies for advanced beginners

I just want to buy options. Not write options.

I know next to nothing about options, so I'm a beginner...

Are different maturity terms offered on DJIA and ES options? How about for Big Tech Stocks like Tesla?

If I was looking for a quick swing trade, and I had an idea on direction, I would want to buy options close to their expiration in the anticipated direction.

Is this more or less correct ? Get more leverage on the anticipated move ?
 
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So for earnings, buy options before earnings release ?

Also look for stocks with options expiring close to earnings release ?
 
Hotcakes said:
I just want to buy options. Not write options.

I know next to nothing about options, so I'm a beginner...

Are different maturity terms offered on DJIA and ES options? How about for Big Tech Stocks like Tesla?

If I was looking for a quick swing trade, and I had an idea on direction, I would want to buy options close to their expiration in the anticipated direction.

Is this more or less correct ? Get more leverage on the anticipated move ?
More...
You just have to remember 90-95% of options expire worthless, so you buy the 5% that are not, or get out before expiry.
 
Quanto said:
For some strategies such a combination is indeed an advantage.
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WallstreetBets seems to focus on options close to expiration. Or at least some of the WSB traders do - buy options with 2 weeks to expiration. Etc. Hoping for a big move.
 
Hotcakes said:
WallstreetBets seems to focus on options close to expiration. Or at least some of the WSB traders do - buy options with 2 weeks to expiration. Etc. Hoping for a big move.
More...
For an expected high-impact-event (such as ERR or FDA or any other major corporate event), it is financially beneficial to do the trade the day before the event day, especially if a LongStraddle like here is used: https://optioncreator.com/sthljiy
DTE is 1. If you use a higher DTE then the cost of the trade will increase.
Ie. it's an optimization problem: with LongStraddle (and LongStrangle) the shorter the DTE the better, ie. the cheaper the trade.

ERR: Earnings Report Release
FDA: FDA approval (or denial) decisions on new medics, drugs etc. (mainly sector/industry biotech, pharma, food)

1DTE_LongStrangle.png
 
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