I stay as far back as possible to get a 1-2 dollar credit per contract. So on TQQQ that is 20 dollars out of the money and with UPRO that is 3-4 dollars out of the money.
I also play many under 50 dollar securities like T, MO, WBA,GE, F SO My goal is 30% annualized return I only use the weeklies so I generally close out my position on Wednesday and take a new one for the next week so my trade duration is 10 days max.
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