First of all, a good trader doesn't listen to other traders to find out what works, he finds out what works himself. Second, I could tell you that delta neutral trading is the most profitable trading style ever and you could proceed to lose your house using it. Options are very very complicated. You need to understand volatility forward and backward, not just how its calculated mathematically, but how it moves and changes with the market. You need to understand the vol skew and why that happens. You need to know why market makers juice the premium. You need to know the relationship between statistical volatility and implied volatility and why those two trade at different levels. As far as deltas go, you need to know what delta bleeding is. You need to know the relationship that delta has to time, to volatility and to price. You need to know the difference between standard delta and true delta. You need to know what CEV (constant elasticity of volatility) is. Then if you’re going to trade delta neutral you need to know what gamma is. You also need to understand the gamma of the gamma which is the second derivative of gamma. Also volatility has a second derivative, the volatility of the volatility. You also need to know what the alpha is which is gamma's relationship to theta. You also have to understand what stochastic volatility is and how it is different than regular volatility. There are 100 things you need to know about options before you can make it work. Its not as easy as just saying buy straddles. There is a very good reason why 95% of the people who trade options lose money. It's because they are asking if such and such a strategy works and they use it like a one size fits all strategy. Options is a zero sum game unlike stocks. That means for every winner there is a loser. It's the top 5% that take the other 95% money.