#Fuzzy I am in a few, but as with most strategies, results are mixed. Have a hard time to decide when is the right time to close once you are not profitable. I am clear about the combined risk between premium paid and the spread, so I do know what max exposure is. This is mainly such a long term strategy which makes it so difficult, for example I started with MU on 4/12 with 50/52.5/52.5 exp Jan18’19, paid 7.51. Shortly after MU started to tank, but I have been able to clear already a premium of 1.95 after fees by selling the calls, Delta is still almost 50. I am still considerably down at this time and am certainly not interested to give it all away. So, where would you stop and why?