Nov 06 2020 26 mins 9
Today, we kick off the show, by [managing a couple of winners](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/portfolio-tactics-managing-winners-and-managing-losers-long-term-performance-11-07-2018 ) in the portfolio. Specifically, our Short Strangles in both IWM and SBUX have now reached 50% of max profit, so we take them off to book those profits. Then, we look to add a new trade in FB. With the stock being nearly $300, we’re relegated to a defined-risk strategy. Still, this trade allows us to walk through the benefits of collecting a little more credit on trade entry with [your defined-risk strategies.](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/defined-risk-strategies-pros-and-cons-05-20-2019 )
