1. Basic knowledge about the option market. You don’t need to be a rocket scientist, but you should not be afraid of spme numbers.
  2. The tools: a reliable option broker and a basic option analyzer tool.
  3. The correct mindset: You should unterstand your strategy and why it is working. Otherwise you will not be able to withstand the inevitable drawdowns.
  4. The Backtest: Your strategy should have worked in the past. You should tweak and test the strategy with option backtesting to get a feel for it. It should work in all market scenarios. Don’t fall for the overfitting or the market timing traps.