I just got burned on a straddle position I thought was a sure thing. The implied volatility seemed perfect, and I was sure the earnings would bring a big move. Instead, the stock barely budged, and I’m licking my wounds. Anyone else have a go-to strategy for handling situations like this? Do you adjust your positions, or just take the loss and move on?

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Look at your positions and see if you would enter either one now. If not, close. Adjustment is a loser way of saying I'm in a weak trade but don't want to admit it.

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