now it seems to me after reading for a while I'm getting the impression that the best way to manage and neutralize gamma is through ratios back spreads. After reading book or two on options market making t seems that my intuition tells me that the two best strategies because of their risk profile is a ratio back spreads and buying butterflies .for one of butterfly has a limited risk profile limited to the amount paid for the spread. so one cannot lose more than what is paid for the butterfly .. Although this is a limited profit profile in most respects it's a combination in close well before expiration with very good profit . My intuition tells me hat this is the best way to short volatility and make money off the depreciation of the at the money or the middle strike prices options premium. I would love to hear you guys thoughts as to alternatives in many other respects I've seen all make good money off iron condors and manage their trades by the amount of gamma and close them out well before expiration. Now back to the ratio back spread.. I have a few of these on right now and I put them on in a few cases with leaps I figured putting them on with leaps would give well enough time for really good things for really bad things happen. Now that being said does anybody have any experience managing back spreads his or her particular time frame that you would follow far away do you measure your risk as expiration closes in. The reason that I like the back spread so much is that it gives you a unlimited profit yet limited risk profile and it allows to be completely wrong about direction without getting completely burned out of premium completely. But what happens when the underlying moves towards the thought strikes but doesn't blow past them and create profit and employee guide which expiration is nearing in the profit graph starting to peak Anyway I would love to hear you guys experience on these trades