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I’ll sell one extra if a trade has gone my way, but for me 3 would be too many. I would close one of the two just to minimize tail risk. Especially when volatility is low because unexpected drops in a low volatility regime are one of the most common ways you lose in this strategy.
@nobatmanjokes that makes sense, appreciate the feedback! I think once I move up to ES, I wouldn't expect to have more than 1-2 open due to shorter DTE.
In retrospect, the ~$5 I made selling the 4205 put yesterday probably wasn't worth the additional tail risk, or would've been worth the ~$1 to close an older trade to reduce that risk.
