Hello,
I've noticed that a general rule when writing a covered call (wheel strategy or etc), people usually elect to go for 30-45 days out. Some people go for as short as 30 days but it seems like the sweet spot for many are between 30-45 days. I am not sure how this number was decided but it seems like it has become a standard for many option writers. My question is do we have a standard or general rule for vertical spreads expiration? What's the general rule for picking the expiration if there are any? I was wondering if there is one just like covered call. What do professional option traders go for in such a case? I am sure it's not like black and white in addition to many factors considered. However, I was wondering if there is a guidance on how to pick the expiration in general for vertical spreads.