Hey everyone!
It’s my first year trading options so would appreciate some guidance.
I’m up \~66% YTD, but essentially all my profits have come from selling \~0.20–0.30 delta puts on AI/semiconductor/software names (NVDA, LRCX, BE, etc.). Given how well that part of the market has performed, I’m very conscious that a lot of this because **the market is going up rather than skill**. I’ve been lucky.
I’d like to become much more systematic, particularly around protecting what I’ve made.
A few things I’d love to learn from more experienced traders:
• How do you approach low-IV environments? Do you simply sell less premium, or switch strategies/exposures?
• I keep reading about delta-neutral strategies. Is delta neutrality particularly useful when IV is low, or am I conflating two separate concepts?
• With VIX around 14 and September historically having a weaker reputation, how would you think about positioning? Trade smaller, use defined-risk structures, look for long-vol opportunities, or simply wait for better setups?
Mainly trying to build a framework for deciding when I should and shouldn’t be selling premium.