When a trader enters a short strangle position (or any other complex strategy), he may need to adjust his position between opening and expiration.
in terms of short strangles, consider the following: The trader opened a SPY short strangle by selling the $550 put and $610 call. Both legs expire in 60 days.
30 days into the trade, SPY is trading at $611. If trading with standard practices, the trader will CLOSE his current $550 put and sell a new put at a higher...

i look forward to testing different short strangle approaches.