Quote from cnms2:
If you want more of a directional play is better to play ITM or OTM. Also, by spreading you can reduce the effect of the IV, if you want so.
as my name implies, i place spread orders for customer accounts. i want to trade them myself and sell them just out of the money on the assumption the stock will at least stay flat or move up a small amount. i can make a pretty good % on the amount of capital required for margin and be making money even when the stock's doing nothing.
as far as the research i've done that's it. i really appreciate the time you've taken to try and explain this.