# @tastyliveshow on YouTube - **Type:** Video - **Original URL:** https://youtube.com/watch?v=9tcQsUyHuyA - **Gondola URL:** https://gondola.cc/posts/65858405-tastyliveshow-youtube - **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/817226bc67.jpg - **Posted:** 2026-05-24T15:00:09.000+00:00 - **Account Owner:** tastylive (@tastyliveshow) — https://gondola.cc/tastyliveshow ## Caption Legging out of a strangle feels smart in the moment. Stock rallies, your put goes to a 5 delta, you close it and pocket the credit. You just got more long without adding risk. But does it actually improve your results over time? The tastylive research team studied 45-day one standard deviation SPY strangles since 2013, comparing managing the full position at 50% versus managing each leg independently at 50%. The answer is almost identical across all delta levels except one. When you get to large delta positions like at the money straddles, managing the whole trade clearly wins. The largest loss shrinks by about 10% and the complexity stays lower. Helpful links: tastylive: https://www.tastylive.com/ Get Tom's pre-market analysis every morning: tastylive.com/newsletters FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 Follow tastylive on X: https://x.com/tastyliveshow CHAPTERS: 00:00 Today's Market: Nasdaq Down 400, Bonds Down 17 00:45 Is Legging Out of a Strangle Worth It? 01:15 What Legging Actually Means in Practice 02:00 Study Setup: 45-Day SPY Strangles Since 2013 02:45 Manage Whole at 50% vs Each Leg at 50%: The Results 04:00 Small Delta Strangles: Legging Makes Almost No Difference 06:00 30 Delta Strangles: Managing Whole Starts to Win Slightly 07:30 At the Money Straddles: Clear Winner Is Managing the Whole Trade 09:00 Largest Loss Shrinks by 10% When Managing as One Position 10:00 Why Ryan Still Legs Out and When It Makes Sense 11:30 Key Takeaway: The More Delta, the More You Should Manage as One #marketmeasures #optionstrading #spyoptions #investingforbeginners #financialeducation #stockmarketforbeginners #shortstrangle #optionsmanagement #howtotradeoptions #tastylive tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we’ll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. (“tastylive”) and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims (including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer. ## Stats - **Views:** 680 - **Likes:** 29 - **Shares:** 0 - **Comments:** 0 ## Tags stockmarketforbeginners, spyoptions, tastylive, optionstrading, investingforbeginners, marketmeasures, howtotradeoptions, optionsmanagement, shortstrangle, financialeducation --- Copyright (c) Gondola