#2 - Weeklys Undergo Rapid Delta Swings
Weekly options may not be good for conservative traders, but they are great tools for gamblers. That’s because longer-term options have a slow-changing delta because gamma is small and the option’s price does not change dramatically as the option moves from an out-of-the-money position to an in-the-money position.
With Weeklys, gamma is explosive. With so little time in the option’s life, an out-of-the-money option with a 20 delta may suddenly have an 80 delta as it moves in the money by a point or two. That results in dramatic changes in the price of the option, which can be great for speculative traders.
One other thing to note: Options buyers rejoice when their options move in the money, but option sellers lose their bet.