Time of day to trade.

Quote from walterjennings:

Write an option system (doesn't matter if its profitable or not). Backtest it only using the first hour of trading, then backtest the same system from 12PM to 1PM EST. I'd bet you'd see a noticeable difference in the performance, whether it is better or worse would depend if the system likes low volatility over high.
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There is no need to write an options system. What you're saying is the electronic market in options is less efficient at one time of day over another. Do you really believe that the quote systems which operate in milliseconds these days are lazy at certain times of day?

One "system" which you or someone else writes may work better at one time during the day or another but that’s a function of that particular system not in the efficiency of the market place yielding edge in a trade.
 
Not knowing your strategy in detail or which underlying you are targeting prevents a more definitive answer. However trades at or just after open are notorious for reversing trends and flip flop several times. For me in my earlier trading the open is almost always a losing deal even in the most directional days. There is a supply and demand curve that determine favorable or less favorable pricing.
 
There is no edge in trying to pick direction thus if you base your trades on direction in conjunction with time of day again there is no inherent edge in the trade. The options will be priced based on the price of the underlying at that moment.
 
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