With options the very worst days for theta erosion (time cos...

With options the very worst days for theta erosion (time cost) are the last two. Never hold anything past Wednesday. Almost always better to end the position and write another than to hold a bought option past Wednesday of the expiration week. Also, if you have abundant capital, get to know the process of selling options so that expiring worthless is precisely what you want to have happen. One day options can be a boon there also.