Active position when Nifty at 15000
SHORT ON NIFTY JUNE 14200 PE ( ENTRY 80, CMP 90, T + 1 days)
How would someone find the corresponding CE leg to short, for converting the active naked OTM short position in to a Strangle strategy. So that, the theta decay of the new CE short position will be faster to make up to the 10 point loss already in the position?
What greek values are to be matched in this situation for find the corresponding strike of the CE to short, to make this losing position into a strangle?