I understand the Greeks and with the exception of buying a DITM option (delta being the most important) and selling it after a 5 penny move in 1-2 minutes, vega is very important to my trading style as I trade BAC, HAL, XOP and MRO and I usually buy the 17ths (standards) of each month and then supplement with weekly’s.
I understand that before earnings and big events change in implied volatility will increase (vega will make your option worth a lot more) but let’s say this upcoming week, I…