Tom asks the yutes to take a look at their positions’ IV Rank and take off those in the single digits. At this point, the risk/reward is actually against you.E takes off his X strangle and breaks even.Kay takes off her F vertical spread for a small profit. Both yutes put on new trades in place of these old positions. Tom warns E and Kay that in this low IV environment, some winners are going to be on the smaller side--but we’re still in a good position. As tastytraders, we play a high probability game with limited profitability, and it works out for us. It’s a given that markets are generally going to stay within an expected range most of the time, and IV is going to contract most of the time. As Tom says, “Nothing moves more than something moves,” and this is what we prefer as option sellers. Bonus Lesson: Rolling your undefined risk trades forward a month reduces your risk 20 - 25% because it reduces gamma risk.