What's the negative about buying contracts 1 month out when scalping options? (Is it buying same day or 2-3 day contracts are way cheaper?)

Question

What's the negative about buying contracts 1 month out when scalping options? (Is it buying same day or 2-3 day contracts are way cheaper?) I don't want Theta to negatively affect my gains.

Answer 1

By scalping, I assume that you mean short term intraday trades. If so, then there are several considerations:

1. High delta

2. Narrow bid-ask spread

3. Liquidity

4. Lowest cost (near term expiration)

Note that (1) and (3) are somewhat antithetical and that (4) gives you little room for error.