Yesterday, SPX rose to 1650 level, up $75 points in last 2 weeks. The SPX-weighted Delta of my non-directional portfolio reached -34 and the SPX price continue to move to the edge of the P&L zone as shown below. So I decided to make additional Delta adjustment, on top of my calendar spread adjustments on Monday.
If the market continues to rise, I might have to use a vertical debit spread to significantly reduce Delta in the next few days. For my position trade on SPY put, I may have to exit if SPY rose above $166 firmly as planned before.
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