My goal is to trade both directions intraday picking up the major runs and getting out of the way when the market is in a distribution phase building the pattern. I like trading both directions because it teaches me to read the charts better and be more agile. I traded both TNA and TZA today. Had six trades that were all profitable. It was a great day because none of my trades went against me. Had I stayed with TZA, I would have made more money but, I'm learning to just trust the patterns I know and then take my profits and wait for the next set-up. I cashed out of TNA on the last peak and will wait until tomorrow to see what fate brings us on expiration day.
That's especially true on anything range bound. Both calls and puts lose premium pretty quick.
In Reply To '2bit-nothing'
Yes, good trader plays both sides, but not simultaneously, you can loose on both sides on options, in options, playing both sides guarrantees nothing....