Selling a put turns your position into a Synthetic Long Future. Unlimited up, unlimited down to zero. You can sell stock to lock in your delta gain. This would work best if you thought volatility was going to increase toward expiration. If you're spec'n, just leave it. Hope those gains turn into really big gains
You are long the 95 call and and want to sell the 115-95 putspead as protection??? No disrespect,but you should take your profits and gry a better handle on options.. Am,I,m9ssing something?
Do the trade that gets you back to your original Delta. Your objective is to manage notional exposure and duration. That's all.