Weekly Options have become all the rage on Options based blogs. As I trade Options, rather than the common stock, I’ve been interested in their increased availability, liquidity and spreads [bid/offer]

The short answer is that they are now viable daytrading securities on the indices. On the SPY, the bid/ask is a penny, on IWM, 2/3 pennies. With the vast reduction in theta, the leverage opportunities contained in intrinsic value become really attractive as contrasted with your risk exposure.

Thus from next week I’ll be again daytrading the Open, which is my favorite timezone in the market using weekly Options to do so on the IWM as this moves in lockstep [pretty much] with SPY and increases your leverage again

I’ll post the trades as close to real time as possible, but there’s always a bit of a time-lag, but the general gist should be easily followed: this is generally a follow through or continuation of the previous close.