These work great but always looking for ways to improve on tactics. Improve returns, success rate, less adjusting because adjusting costs money or delays profit taking. I am not greedy, just trying to figure out what works the best with the least amount of work or adjustments.
So I have been experimenting with this on a limited basis. Instead of starting #pietrades with only 4-8 DTE, go out about 3 weeks. Split the distance between tasty trades recommended 45 DTE and the 1 week for classic PIE trading This does 4 things. Gets you farther OTM, collects higher premiums, but stays on the steepest part of the decay curve, and allows quicker recycling of capital. Also most will be rolled or closed before full expiration. My limited experimenting with them shows most are closed or rolled within 2 weeks of opening.
So I am looking at 3 possible this morning. EXPE, VLO, AXP. Will post once I see where market opens. Also on vacation week of 7/14-21, be out in @smasty160 country so a perfect time to start a few of these as I will not be trading that week.
As the time value erodes, would then roll each week in same name if you still like the ticker or move to new positions as the market oscillates.
Will keep posted on how they work real time and on a larger scale.