"hm.. what happens if the SP never goes above 48?"
It's all to do with timing the purchase (that's when I use my "magic" TA :)
Straddle Sell can be used for ST or LT trades and even intra-day.
Sure, some will get stopped out but overall if you choose a good entry point it will preserve the STOP.
You don't set the STOP @ time of purchase.
Once set you periodically adjust the STOP if/when the SP moves UP.
Have been using this method for many years :)
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