Delta Hedging as one of the best risk management techniques for SHORT PUT SPREADs (Example with JNJ)

Guys, what do you do when your SHORT PUT SPREAD goes bad?

Today, we're having a big down day on the market and my JNJ position started loosing a lot of currency. I decided to manage it short term by using Delta Hedge to protect my position and manage my losses (with the potential of coming back to gains some time later). In this video I show you how, you too, can manage your positions by applying Delta Hedging technique. Enjoy!

[okeuwechue]

Interesting strategy. However it severely narrows your region of profit and places your max profit basically at right where the underlying is trading - like a Butterly. IMO this strategy only makes sense in a contracting IV scenario when your contracts are nearing expiration; otherwise it seems WAY too risky.