I use roughly the same strategy but I think you misunderstand the real reason most option purchasers buy. When I buy options it's usually both calls and puts for a price range that allows me to day trade with practically no risk during the options period. It's just an insurance policy. If you pay $.30 for a month long contract but make 12 $.10 per share trades you more than covered your expenditure. And that is pretty modest expectations.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.