Strangle adjustment

This may sound off-key and long winded but might help you understand if and when to adjust positions.

If you can get past the first few minutes of this video, maybe you will know where to look for your answers. How Options are Impacting the Underlying Market (Gamma, Vanna and Charm Explained)

And if all of this still makes sense to you, maybe consider reading up on this paper: Who Profits From Trading Options? by Jianfeng Hu, Antonia Kirilova, Seongkyu Gilbert Park, Doojin Ryu :: SSRN

These are only pointers and not direct answers to your question but hopefully you will find what you need from these.

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