They could be a good alternative in certain market conditions to stop losses. Depending on implied volatility I would use them because you don't have to close your position at certain level with stop loss only to find out later that market did move in the direction you predicted but you were out already because your position hit stop loss. Another nice feature about them is that once you hit your TP, your option is worthless at this point but It hasn't expired yet, in case market moves back, the…
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