Hi Michael,

Curious on the losses you're willing to take on a LOD stop. Today (5/8/24) the SPY20240508P516 opened at 1.40, and is currently at a low of .21. Let's say there's a major reversal in the market and the Put manages to cross it's open. Is your stop loss set to .21 aka -85%? Or do you have a maximum stop loss threshold?

Thank you as always for your insight,

Andrew