How Does the Expiration Date of an Option Affect the Choice of Strike Price?
The expiration date of an option is the date on which the option expires and can no longer be exercised. The choice of strike price will be affected by the expiration date, as a longer expiration date will give the underlying asset more time to move in the desired direction.
This means that you can choose a strike price that is further out-of-the-money and still have a reasonable chance of the option being profitable.