Summary: They say that timing is everything; and though that may usually refer to lofty ideals such as love, it absolutely has its place in options trading. Today’s piece of research on [Market Measures](https://www.tastytrade.com/tt/shows/market-measures) concerns [short strangles](https://www.tastytrade.com/tt/learn/strangle) with varying [strike selection](https://www.tastytrade.com/tt/learn/strike-price) and how long it takes them to profit on average. Tom and Tony go deep on the following study parameters: * Sold [30, 16, and 5 delta](https://www.tastytrade.com/tt/learn/option-delta) strangles * [Managed all trades for 50%](https://www.tastytrade.com/tt/learn/managing-winners) of credit received when possible * Compared results to [IV Rank above 50%](https://www.tastytrade.com/tt/learn/measuring-implied-volatility) * S&P 500 ETF (SPY) * 2005 to present ###The Results The tastytrade Research Team found that selling more aggressive strangles, like the 30 delta, yielded larger profits on average yet took longer to reach 50% in profits. While the less aggressive 5 delta strangles were managed more quickly for very marginal gains on average. The 16 delta, or the tastytrade go-to strategy, posed a nice middle ground between timing and profits. Check out the segment above for greater detail and context concerning short strangle strategies and the time it takes them to show decent profits.
