### Comment:
Its a bunch of short call or put spreads. Instead of closing the short leg of a winning trade and opening a new short leg, OP is making a new short spread at higher strikes on the winning side. The downside of this strategy is a greatly reduced theta value for your position, but for &lt;7DTE options it doesn't matter as much.

### REPLY:
I'm starting wide about a week or two out, then slowly contracting inwards as it gets closer to expiration, and also adding on the final day. If things continue moving up, I move the put spreads up a bit and add some call spreads even higher just in case. It has backfired a few times because of the way NDX can move. Tough to close winning positions for a small loss or gain. If it's super far OTM, I just let it expire unless I need the buying power.

### END.