I mostly trade weekly around 2-3 different stock option contracts. I like to set goals on how much I want to make per week and do my best with research to see how the stock is performing and know what is going on with current market events.
Weekly options trades are from Monday – Thursday or Friday. Though some stocks option contracts are from Monday, Wednesday, Thursday or Friday. They are great to make a quick profit within the week as long the price is right.
I will experiment with monthly contracts In May as you collect more premium upfront for a single trade, versus weekly contracts with gamma risk. Gamma risk is the stock moves very quickly can either make or break your profits with weekly trades while gamma risk is low in monthly contracts.
I look forward to trying out monthly options contracts and see how much profit I will make in may, while learning more about monthly contracts and risk.