Personally, when I don't have a lot of cash on hand, I stick to just the call and put options as they are cheaper and a better payoff if you long/short them right.
Sure, shorting WNCHS.OW was a great strategy but unless you're confident a movie will open much higher or lower than the Opening Weekend Warrant is set at, you won't make all that much from warrants. Blockbuster Warrants, on the other hand, are a great investment if you buy when they go on sale.