The stock has moved ahead of the upper range. Is there any way to change it so that the new range becomes 85 to 110 without loosing much money?
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1.roll up the options.
2.if you think bel go further,then close the position or make it delta neutral by buying options.
3.wait for pull back (worst we can do)
4.close the position and accept loss.
I’m not suggesting anything, you have to decide what to do
It’s better to prefer hedged position than naked position, ofcourse risk and reward comes together.
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Hey Tapovan… Newbie question… so pardon me as I’m asking you a question as opposed to providing a solution which you probably are looking for.
This is an inverted strangle right? and i’ve always seen this situation occurring due to rolling up a failed short strangle.
Did you enter the trade as an inverted strangle and if yes could you explain the logic behind this? Thanks and sorry if i’m asking a real basic question. Thanks.
You are late to do the adjustments. I mean, if you had done timely adjustments, the adverse move would have helped you.
Looking the charts, I believe a down move is imminent. So you might be able to escape, may be even with a profit.
You can close the PE and wait it out on the CE or take more risk by selling more calls or buying puts.
But if you do escape from this loss, REMEMBER this is how new traders are trapped. One escapes a mistake by chance and believes all the wrong things like, waiting on a bad position is OK or just that s/he is invincible and will make no loss etc. 
i closed this position at a negligible profit. @kars what i could have done bhaiya to benefit from this adverse move which u mentioned
I think you entered in this position on 29th June. Price moved sharply after. You should have done adjustments, if you wanted any, by EOB Friday 3rd. Because of weekend coming and the earlier sharp adverse move. On 8th, it is late and I had a bearish view and so I told:
You asked about widening the 100 to 110. But without losing much money … and may be not using any more margin … I dont think it is possible. You could have exited the current position and entered again in different strikes. That is same as closing the current trade in loss and opening the next trade.
Just delete the app and assume all the losses have gone
suppose you have created this strategy at 87 and when market moves to around 92, you buy 95 call, as simple as that. lately when its in same direction you can short pe or add call to gain more. try this back test in opstra
Buying calls and selling puts are not same.
Also, buying 95 call after it moved from 87 to 92 is one specific action better suited only for specific condition. Say your outlook changed from range bound move expectation to “oh god I gonna lose my house if the changed trend continued its momentum” then you buy calls. If you are sill into sideways action but only a widened range, then you sell puts. If your view is still not changed and if you believe the current move is only temporary, you double or triple down on your position. But these martingales are to be handled very carefully.
If you had hedged from the beginning it would be iron-condor or butterflies. By not hedging we get strangles/straddles … and save something by not buying hedge… only to suffer later.
Any new comer to option selling should practice only less qty and limited risk strategies like spreads, condors, collars and butterflies … and learn to hold till expiry.
Adjustments and the like are not for less capitalised, new comers. Options itself is complex. Dealing in futures or the underlyimg … may be with OTM options as hedge will be probably simple to understand and easy to handle.
Thank you to everyone for their response