Lyle considers himself a gambler. He likes to do research on individual stocks, market sectors$,$ and the stock market in general, and he likes to buy and sell based on breaking news. Lyle primarily invests in individual stocks and industry$-$specific mutual funds $($i$.$e$.,$ healthcare mutual funds or manufacturing mutual funds$).$ He rarely buys ETFs. What specific advantage of ETFs over mutual funds is Lyle missing out on$?$

Ability to buy and sell at any time during the trading day.

Diversified portfolio.

Both low expense ratios and the ability to buy and sell at any time during the trading day.

Low expense ratios.