Trading options on low volume stocks

[dlvr073]

With wide bid/ask spreads on these small biotechs and other low volume options does anyone have any tips or strategies on how to trade them?

[LRP]

Place an order at or just above current bid and wait. If there's low volume, it probably means there's no immanent catalyst and so you shouldn't feel rushed to get in.

[DogDayTrader]

With wide bid/ask spreads on these small biotechs and other low volume options does anyone have any tips or strategies on how to trade them?

In addition to LRP's advice, I would be cautious about trading stocks with low volume. Personally I don't even consider penny stocks with a 20 day Avg. Vol. of less than 300K, it's too easy to get stuck with something that you can't unload when you want due to lack of volume. Just a thought.