I was going to roll those puts, as I always do, but there was a fire alarm in the apartment building and we had to all evacuate. After about three hours we were allowed back in but by then the markets had closed and my puts had exercised.
So sell the stock and sell the puts you want to be short as a spread. Discipline.. Then you end up with the trade you wanted and move on.
Wish I could do that and stomach the loss. But those 200 shares represent almost my entire portfolio / savings / net worth.
Short four calls at a strike that you’re targeting. The 200 shares and four short calls = two short straddles.
This is my last comment. I'm trying to help. If you can't afford to lose 4.58 points on 200 shares, you should not be selling naked puts. That money is lost already. Now you have to choose what you want to do. It's your money, Bob
Short call and short same-strike put = straddle Long 200 SPY; short four calls = straddle Long 100 SPY; short two calls = synthetic short straddle As has been stated; if you don't know the mechanics then it's best not to trade vol.