What is your option strategy?

Mine is selling 1 SD strangles as close to 45 DTE. Managing at 25% profit.

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I put it all on black

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Have been selling OTM strangles to rake in some marginal gains but beware of a wild swing either side in case you haven't bought back further OTM

How far OTM do you go on each side?

Which asset do you trade btw?

Only criteria is liquidity and volume. And not leveraged ETFs

That’s reasonable.

I’m starting iron condors with similar strike selection but maybe more leverage and managing to 50%. Might be interesting to see how the POPs and risk/rewards compare.

Most of what I’ve been doing is speculative debits (spreads and naked), writing naked puts on stocks I want to buy anyway, and covered calls on core positions. This has been fairly successful but I’m trying to build a more diverse tool kit.

On the condors I’m still working through the position size, but it will be driven by max loss limit on the trade. Need to run a couple to nail that down, but it will be something like 1% loss of portfolio value on a single trade, coupled with the max loss % within the trade, and then you have the implied position size and number of contracts.

Want to get a solid set of decision rules so that it just becomes mechanical and can be executed without much need to deep analysis. And I want rules that can be translated into stop orders for the day that I eventually work in an office again...

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