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Thank you for the answer. After trying it I believe that staying delta neutral causes less losses than playing with the notional. The only fact I'm not sure about is how often do I need to intervene to remain deltra neutral (1 day to maturity, USDZAR), every 50 pips difference for example?

A guy on a french forum told me that the way he hedges a short straddle is not by hedging the UL because it can be difficult and costly in case the market goes up and down the strike. He said instead that he delta hedges the straddle and that if the market goes up he goes long a little put in...

Merci beaucoup!

Hello thanks for the answer! What do you mean by the UL sorry? Does an appropriate short straddle hedging on 1 or 2 days to maturity be done using gamma scalping concepts? I must be certainly wrong or maybe very naive but can it be done "simply" by tring to be long above the strike or short...

Hello, I'd like to know if anyone already tried to hedge a short straddle using underlying? If so, was it efficient? I know it can be hedged using Iron Condor or long butterfly but for 1 or 2 day max maturity, one could use the underlying instead... no? Merci