I prefer doing market orders. But if I'm trading names with less liquidity, I am buying the ask and selling the bids.
I always look for at least 3000 volume on option contract.
I never trade 2.5 interval strike prices..
- for example, if Apple have 145, 147.5 and then 150 contracts, I am always trading either, 145 or 150.
If a daily level breaks and you expect a bigger move, go a little further out of the money as risk is small but reward can be big.
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