managing a short strangle ?
Hi,
a few weeks ago I opened a may22 160/220 short strangle on NVDA for $305. With this big runup the last few weeks I already rolled up the short put (first to 180) then opened a second short strangle to collect more credit and afterwards rolled up the short puts to 195.
As NVDA runs up even further and may22 comes closer I am really thinking about rolling up the short puts to 230 (still may22) to collect even more credit. With pre market data I could sell the 230 puts for about 11,60 today. Which would result in an overall gain if NVDA stays above 220 or doesnt sell off within the next few days....
Is rolling up the unchallenged side of a challenged short strangle into the money a viable strategy or would you just roll out in time or even btc with a loss ?
PS: The position is less than 2% of the depot, so no big deal if it fails....