system
A chat on subreddit /r/wallstreetbets
human
Question: 
  
 Say i lock in gains with a PUT deep in the money, and the next strike OTM is quite a large spread from what I have (8-9 down).  I always want to choose my sell strike OTM to lock in gains right? or is the spread too wide?

gpt
You're not really locking in gains if you're selling OTM, you are recovering some of your initial premium but if it moves against you and both positions end up OTM then you will definitely lose money. The idea would be to sell a lower strike put for more money than you paid for your higher strike one - this is usually most effective with the closest possible strike to yours.