If you are not using back up trades to protect your main tradesโฆ
You need to learn it
This is what makes options trading really flexible
Example:
- If your Covered Call is in trouble, use Put Credit Spreads to pay for the debits that you might take in your rolls
- If your Iron Condor goes against you, use a broken winged butterfly to protect the troubled side
So many ways to play options
Takes years to master them
But gotta start somewhere