SPDR S&P 500 (SPY)

[2bit-nothing]

Ya you can use the OTM volatility to gain/loss bigger bucks, for every 1 ITM contract, you may be able to buy 2 OTM contracts and with a bigger leverage.

However, more importantly trading options should be based on probability...I bought my calls at fib 78 retracement when DOW was down approx 140, plus the information from Denmo concerning 30/30 probability on a gap down day on Fed day (no other events will give you 100% probability), plus I know I am not going to keep them overnight. I would not forgive myself if I had not gone for the calls.

good luck

2bit