I believe the different strike prices that NN used were based on the option price, which I assume is based on the implied risk. He was always a little cryptic but that is what I gleaned from his explanation.
He likes to create a guilotine press with a good spread between his calls and puts in case price doesn’t move up or down. Then he fades his positions with the stock movement. He wants to win in all situations. Like now he’d probably have a 417 call and 423 Put and maybe some 420 calls.
...besides the math there is the pawn, knight, and bishop plays. This maneuvering that, if done correctly over the first three weeks of the OE period, will put strategic stop loss positions into place to protect aggressive plays during the OE. This accomplishes safety nets without giving away the fortress to da-Boyz as they sweep for the traditional stops both Long and Short before a big move!?