system
A chat on subreddit /r/wallstreetbets
human
How do you know when to sell your hedge?

Last couple of collars I set up lost more money on the puts than I made on the CC.
gpt
Use the expected move of a binary event, or generally take VIX and divide it by 16. The hedge becomes a liability once the move has happened.   


Alternatively, counter your long deltas with short /mes or shares. Adjust them as your deltas shift over the course of the play.