### Comment:
How far out OTM do you go?

### REPLY:
Depends on volatility and my level of confidence. I usually pick a strike that is just a bit outside support/resistance. So, for example, I think SPY won’t get back above the $287 mark without some sort of resolution on trade, so I like selling $287/$288 or $287/$289 spreads a few months out. Betting on continued downward trajectory but if we just stay flat it’s okay too.

### END.