when I'm averaging down from losing positions I will buy cheaper options because I'm confident that I'm right but my market timing is sometimes too early. worst market timer here. I slowly scaled out of my JAN SPY PUTS because time value would just kill them, so I sold them throughout the week for cheaper FEB and MARCH PUTS. when I am day-trading options I will buy them at the money with .50 delta. but these are too long-term and I'm not day trading them.