Tesla Inc (TSLA)

[Moonlazer]

This is how I effectively manage the risk of buy options, while also securing all potential losses during that very anxious ride. If they start ITM, you only lose the time decay on the premium. Sometimes I do go OTM on a straddle, but only if I feel the wide swings will keep the speculation on the premium at a valuable rate. I always try to ditch the OTM options no later than the day before the expiration.

Hope this all helps. If you any more questions, feel free to ask.