Ratio Spreads might be the most flexible strategy that we deploy at tastytrade. With their unique structure, we’re able to profit from up moves, down moves, or no moves at all. This versatility, however, makes adjusting this strategy a little more involved than some of the more standard strategies that we might execute. Case in point, when it comes time to roll a Ratio Spread at 21 DTE in the cycle, there are a few things to consider. With the handful of Ratios we currently have on in the portfolio, we work through these points of consideration today.