When it comes to your portfolio, do you treat your option trades as individuals? Single trades acting alone? Or do you build trades via inventory like style and treat a “trade” as a selection of many a strikes/legs bot/sold throughout the vertical and horizontal axis within the option chains? Managing Greek risk for the AGGREGATE (which the Greeks were originally used for) beta weighted to the index or underlying you deem fit to weight your risk too.... or both? If you build positions... which underlying do you use to build inventory? How many strikes does it take to build a “single” inventory trade? how many trades do you have open at any given time? does it depend on the volatility environment and also other market conditions? im curious how some of my elite trader brethren’s handle portfolio/trade management in the sense of the fore mentioned question above. mahalos!
Use Inventory...it's just easier that way making adjustments to the trade. So deltas and cost basis will change on the "trade" (inventory of trades). Will often use the same instrument to adjust with different strikes etc. as needed only. Could have as many as 50 inventoried trades open at any time.