> is there much of a difference between buying relatively fewer deep in the money options vs buying relatively more cheaper out of the money options? From a st

> is there much of a difference between buying relatively fewer deep in the money options vs buying relatively more cheaper out of the money options? From a strategy/risk management perspective, for sure. Upsides with deep ITM calls is you'll pay less of a time premium and mitigate some effects from volatility. It can also be a "cheap" means for covered calls. As for downsides - larger upfront risk as well much less liquidity / greater chances of an order not being filled. Buying many OTM calls can be more or less a gamble.