[TheFinalEpic]

(12-29-2016 06:18 PM)jj90 Wrote:  

In response to tomtud above^: I think one needs to define what success means. Does it mean making millions as a hedge fund prodigy or does it mean making enough to be location independent?

I completely agree one shouldn't be competing with the big boys: on their level. It's a lot easier to make 1M on a 10M account vs a 10K account. If you think otherwise then best of luck to you brother.

BTW you missed the most important one of all: vega. Vega trumps all.

Vega is the most important, I'd agree. Implied volatility/IV rank will be the first consideration you make in purchasing or selling options to see if they are selling at a premium or discount, then you look at Delta for how close the option keeps pace with the underlying. Theta decay will then likely be your next consideration, determining what expiry date you purchase or sell (theta works in the favor of sellers, and against buyers). Finally, Gamma will be considered for how fast Delta changes, but to be quite frank, I find it to be least important.