Options Swing Strategies: Max Size

Recently I have begun to swing positions, keeping them a very minor part of day to day activity. Will outline maximum options sizes for any swings I choose to express via options.

One lesson I did pickup today that should note down is to ensure am not buying them at a time when liquidity is at a premium, an example being an opening drive, or a fast move. Best time to enter is when the stock is steady, or have a minor counter-trend move. This has a lot more of an impact than I realised.

First max size: Max size is a function of worst case scenario loss, the number of options, and the delta multiplied by the option. For swing positions I will always be trading out of the money options (long and short). It is only on the rare occasion (for which can look at situation individually, for example if I can't short the underlying because no borrows) that I will get long or short in the money options.

Max dollars at risk: When getting long out of the money options, maximum ever at risk from theta decay should be $250. Ideally I will close position before this occurs of course.

Number of options: For stocks that are greater than $10 the maximum number of options should not exceed my max position sizings on stocks (note that this is unlikely anyway, unless I go really far out of the money).

Delta*Number of Options: Should never have more directional exposure than 2/5ths of my max size for day trading. The reason for this is obvious, otherwise it would make up too much of my PnL. basically the same rule as I have for any swing position currently. Again, this only applies to stocks >$10.

Stocks Under $10: This is definitely more discretionary. However, some hard and fast rules can still apply. I am comfortable having "absolute maximum's" quite high on these as I expect to have the biggest edge in these stocks.
(1) Has the stock already had a traditional squeeze that is expected of stocks this low? If yes then can lean into shorting calls more heavily. If no, be very careful.
(2) Stocks that are $5-$10: Focus on the dead ones that are likely done and dusted (if shorting calls). In this range still can't trade too many options. Absolute max would be a delta position of 500 shares and absolute maximum number of options of 10. If going to maximum size be sure to have scaled to maximise probability of being profitable.
(3) Stocks in $2-$5: These can easily go from $2 to $10, so exercise caution again. Again, focus on shorting things that can have a strong bias, or a recent run with which overhead supply was created. Absolute max delta position would be 700 shares, and max number of options would be 15.
(4) Stocks sub $2: It isn't unusual for a 50c stock to go to $4.00. So again, be sure to allow for that, or short the calls on the backside of move. Absolute max delta position of 1000 shares, and max number of options 20.
(5) A note on stocks under $10. There is unlikely to be good liquidity in options market, so be sure that am happy to take a position in the underlying if exercised, or holding a long until expiration.