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I used to day trade stock as well, though I have not attempt to day trade options. The draw back that I see from day trading options are that for ATM options, the option premium don't move very much relative to the price move. For ITM options, the gap between bid and ask are usually too high and not as liquid. With spread, it's worse because the movement in a spread is even less (one leg makes money, while the other leg lose money), not to mention comission is higher. When trading stock you can enter and close a trade of ~5,000 shares for a total commision of ~$20. While with options, a 5,000 shares (50 contract) spread trade would cost you about $250 in total comission. Straight options trade would still cost you about half of that.
From the way I see it, unless you expect a big move in an option premium, it's not worth trying to day trade options. Also you will probably have to stick to the front month option (options < 30 days to exp.) because these options give you a better price swing relative to the stock price swing. However the downside is when you are wrong, you can't sit on it becuase you will be losing time value very fast and if the price move is too small, the lost due to time value may even be higher than the gain from the price move.
That's just my view of daytrading options. I am sure there are people who day trade options and profit handsomely from it. I am just not ready to try it (I see to many downside to it).
John
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