Balancing Time and Direction with Long Premium

Long premium strategies are always directional to some degree, but we can adjust just how directional they are with our <a href="https://ontt.tv/nu84i" target="_blank">strike placement</a>. With a strategy such as a Long Vertical or even Long Butterfly, there is a balance to be struck between <a href="https://ontt.tv/75SCl">directional bias and overall theta</a>, and as you change the degree of bullishness in the strategy, you will also alter the role that time decay will play over the cycle.