Exiting options strategies before expiry

F&O
1

Assuming I have executed a bull call spread strategy, with a max possible profit of 26% and a max possible loss of 12%.

As per my risk tolerance, I do not want to lose more than 5%. How to exit this strategy if there are few days left to expiry and my current loss is at 5%?

Is there any way to automate this?

Also is there any way to set the stoploss on the entire strategy rather than just the individual orders?

2

I personally use some software.

There is a way around if you want to do it

You can use sensibull
image

Set alert and exit it when needed ; Obviously it comes with its downsides

Assuming I have executed a bull call spread strategy, with a max possible profit of 26% and a max possible loss of 12%.

It is a good RR

Why not hold it till exp

Mind sharing ur pos ?