naked put duration amplifies volatility losses
For XSP-linked naked put selling, the instruction is to target roughly 7 days minimum to 21 days maximum (and avoid going long-term) because volatility can jump and compound losses and buying power constraints.
Volatility compounding and buying-power constraints make long-dated XSP naked puts hazardous; the 7-to-21-day target window bounds gamma exposure and prevents runaway margin drawdowns during VIX spikes.
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