Conservative option strategies, what did you buy or sell today?

[fenders53]

Thanks, that's clearly a much higher level of option thinking. I'll do much more study before I make a significant trade. I don't know what gamma even means yet, but I have witnessed what you are describing over the course of a few hundred covered put and call sales. Once you get inside 30 days or so the premium erodes fast if you are OTM. I usually don't need to free up capital, so I have watched a lot of options ride until expiration. It's unnecessary risk after you squeeze out much of the premium in just a week or two when it goes your way. anyway, I've been interested in learning more about neutral spreads for some time now. Now I am very interested. I just need a better understanding of what happens in a period like NOV-DEC 18, and then the ensuing SPX launch for months there after. Careful selection of option legs tempers that risk of course.