Options trading with a short strangle is powerful until the stock starts moving against you. Short strangle adjustments are what separate traders who survive a bad move from those who don't, and this episode of Calculated Risk lays out the complete three-step protocol live on a real GDX position. Step one: roll the untested side into a tighter strangle when one strike gets tested. Step two: roll into a straddle when the breakeven point gets tested. Step three: consider going inverted if the stock keeps running. And running through all of it: rolling out in time as a rover adjustment that works at every stage. Plus the profit target, loss strategy, and when doing absolutely nothing is still the right call. Helpful links: tastylive: tastylive.com FREE tasytlive Newsletters: info.tastylive.com/newsletters FREE Options Strategy Guide: tinyurl.com/bp9ms763 Follow tastylive on X (Twitter): x.com/tastyliveshow CHAPTERS: 00:00 Short Strangles: The Most ...