I guess you aren't the only one who started putting in trades within a reasonable margin around the market price after the flash crash. Thus it will be hard to repeat like that.
Perhaps a flash crash could happen in the other direction as well? I.e. flash boom, maybe by squeezing the shorters? In that case buying way out of money call options and putting in automatic orders to sell those options if the stock price goes 50% (or so) over last minute's market price would be a viable strategy?
There was something similar to this in August 2007. A bunch of quant shops blew up, and I believe if you look at the volatility index, it spiked up hugely during this time.
Perhaps a flash crash could happen in the other direction as well? I.e. flash boom, maybe by squeezing the shorters? In that case buying way out of money call options and putting in automatic orders to sell those options if the stock price goes 50% (or so) over last minute's market price would be a viable strategy?