Today is the first time that I used my revised exit plan.
The exit plan is to prepare for exit when the OTM of the short strike is about 80 and exit when it is about 50.
Here is what happened today. All times are CT.
8:30: holding 29650/29550 PS sold the previous day.
8:38: sold 29250/29150.
10:00; NDX=29754, prepare to exit the 29650.
10:25: BTC 29650 PS for 33.50.
1:05: NDX= 29330. Prepare to exit the 29250.
1:27: BTC 29250 for 50.
3:00: NDX close = 28957.
Total loss = 83.50. Loss = max loss = 200 if no exit.
EDIT: The above loss is for one set of ICs. I sell sets of ICs that consist of one 25HTE IC, one 0DTE IC and one Junk IC producing 3.40 in income. The loss of 83.50 can be recovered in 25 days.