I like to put on diagonals when IVR is super low or I want a cheap directional shot. I put on several when the market was tanking the other week in MSFT, UPS and BA. Problem being that I was right too fast and the front months delta jumped higer than the back months and gamma bit me or at least took my little profits. I usually close the position once the deltas are equal but I played with the MSFT one a bit and was rolling the front month out to try and drop the delta and catch some more premiums. Doesn't seem to be the greatest tbh but I am very deep ITM now with strikes in the 380's....Anyone have some tips for managing these? Should I just close or is there a better way? I opened this one on 4/13.