There is No Edge in Structures.

There's a common fallacy when one begins to learn options, if they can gain the deepest of understandings it'll lead to riches. Unfortunately, this is not true. There are thousands of traders who've come before us, who've become masters at the greeks and only ever lost money, cut flat, or made just a little bit. Understanding the greeks does not = innate ability to print money from the market. Structures are just tools in a tool box. There's different regimes in the market, only certain structures work better/worse in certain regimes. What creates edge is you. Using the right tools during the right regimes, creating a thesis on a company to predict outcome in the future. Even then your odds of success are realistically very low! What I've seen work: Most of the time, buying LEAPS is the most successful and profitable options structure which is just going long, and even then you need to buy the right company and have patience. Or trading momentum, using screener to identify what algos will buy for the day based on variables, which doesn't even require options and can be done with shares anyways. Most people making real money from the market, are selling courses to teach about the market in reality.