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45-60 days works best. Cover at 20-21 days.
Mentor
There is no "best." You are trading risk for money. I buy 100-170 days out, sell about 12-16, but that is very different than selling spreads.
I do a ladder on IWM, with expirations at weekly intervals from 1 to 9 weeks out. I close when I've made 50% of potential if more than 30 days out, and at 75% if less than 30 days. I close regardless at 7 days (almost always), or lose 2X my premium.
This is not my primary trade type, but works to balance my beta and provide income.
Two weeks out. IV usually crushed more quickly during this time period
Thank you! 3-6 weeks was my estimation