Sell the June OEX xxx strike calls calls and buy the May OEX xxx strike calls. Do you hedge the theta on these, leg into the position, or simply do them as a spread? If you take one of these strategies, do you do so on the basis of delta, or does directional movement come into play? Do you have a mathematical reason for such a distinction? Would you ever do the inverse of the spread by buying the May xxx puts and selling the Junes? Would you close the trade or would you hedge on May expiration and how would you hedge the theta? Why does this strategy suck? Finally, why does OEX option trading suck to begin with, and why should a broker never recommend his non-institutional clients to trade these instruments (the answer is not risk related)?
not really being mean. just goofing off
I have traded options for about 15 years now.
Your post was spot on.