Replies to post #275851 on SPDR S&P 500 (SPY)

[RTMidgetman]

Quite the interesting strat! How much time theta do you tend to give yourself on a strat like this. Month+? Is this what you do personally?

[chelseafc]

Good post for someone like me who never buys options > 60 cents in price and obviously always OTM for that price and weekley and have lost lots of money. Using your strategy, How do you deal with time value decay if you don't get move in underlying in your intended direction. Like you can get above your support but what if it happens only a day before or on day of expiration.