Do you prefer buying in-the-money, at-the-money, or out-of-the-money options? Please explain how delta and the premium paid factor into your entry rules.

In general options trading, the choice between in-the-money (ITM), at-the-money (ATM), or out-of-the-money (OTM) options depends on your directional bias, time horizon, risk tolerance, and how you weigh intrinsic value against time value. ITM options carry higher premiums due to built-in intrinsic value and typically exhibit deltas closer to 0.70 or higher, offering more stock-like movement but requiring larger capital outlays. ATM options sit near a 0.50 delta, balancing premium cost with sensitivity to both price and volatility changes. OTM options are cheaper with lower deltas around 0.30 or below, providing greater leverage on directional moves yet carrying higher risk of expiring worthless as they contain only extrinsic value. Premium paid directly influences break-even points and maximum loss, while delta helps forecast how much the option price will change with each one-point move in the underlying. At VixShield, our approach diverges sharply because we focus exclusively on selling premium through 1DTE SPX Iron Condors rather than buying options. Russell Clark's SPX Mastery methodology emphasizes defined-risk credit spreads that profit from time decay and range-bound price action. We never buy standalone calls or puts; instead, we sell Iron Condor Command positions using EDR for strike selection and RSAi to optimize for exact credit targets of $0.70 for the Conservative tier, $1.15 for Balanced, and $1.60 for Aggressive. Delta enters our rules indirectly through wing placement: we target short strikes with deltas typically between 0.15 and 0.20 to balance probability of profit around 80-90 percent on the Conservative tier while keeping gamma exposure low. Premium received, not paid, becomes our primary focus as it defines maximum profit and sets the break-even levels outside the short strikes. This credit-first mindset aligns with our Set and Forget rules: no stop losses, position size capped at 10 percent of account balance, and signals generated daily at 3:10 PM CST after the SPX close. Protection comes via the ALVH Adaptive Layered VIX Hedge, which layers VIX calls across 30, 110, and 220 DTE in a 4/4/2 ratio to cut drawdowns during volatility spikes. When VIX sits at current levels near 17.95, we favor Conservative and Balanced tiers only. The Theta Time Shift mechanism further recovers threatened positions by rolling forward to capture vega expansion then back on pullbacks, turning potential losses into theta-driven gains without adding capital. This creates the Unlimited Cash System designed to win nearly every day or at minimum not lose. All trading involves substantial risk of loss and is not suitable for all investors. Visit vixshield.com to explore the full SPX Mastery book series and join the SPX Mastery Club for daily signals, EDR indicator access, and live refinement sessions.