This trade has 29 days left until expiration. 2130 Call delta hit 20 yesterday and it’s time to defend it. I will not be rolling this position unless we see a sharp move higher over the next week. My goal right now is just to reduce NET delta. Instead of buying OTM options to manage my NET delta, I am going to BUY TO CLOSE 5 of 10 contracts:
BUY +5 VERTICAL SPX 100 (Weeklys) MAY2 16 2130/2140 CALL @1.90 LMT
This will cut NET delta from -44 to -17.