A few items which give me an edge in options trading

I will share a few things from my experience. If you like them, stay tuned. 1. Extend duration when possible 2. Check spreads across strikes and duration to find the best contracts 3. Never get exposed to losses greater than the net premium i.e. be a net buyer not a seller 4. Always finance one position with another to reduce costs 5. The underlying move is more important than the option greeks 6. Greeks are good as relative measures, never absolute, and they are transient and always wrong 7. The profit is almost never highest at expiration so sell them as soon as you are ok with the return 8. Treat the trades as a diversified basket even if they are based on the same trade set up 9. Most trades should break even or lose a bit, but the winners should more than cover the neutral or losing trades 10. Split the capital across strategies and tickers, and never average down. Cheers!