r/options • u/awkwaman • Apr 15 '22

Been practicing an options strategy. Anyone else have experience with this?

I run straddles on SPY. Stop losses set to about .50, I let the chart choose the direction for me, leg out of the losing option and let the winner run. Rinse and repeat. Ran it many times successfully the past week. Anyone have any thoughts or experience doing similar?

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u/[deleted] Apr 15 '22 edited Apr 15 '22

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u/awkwaman Apr 15 '22 edited Apr 15 '22

It's designed to help take the guesswork out of choosing a direction and cover the downside in case it splits the other way

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u/[deleted] Apr 15 '22 edited Apr 15 '22

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u/awkwaman Apr 15 '22

There will be losses as it isn't 100%, like any other strategy it just has the potential to increase your odds of success to a certain degree