WRITING TRADED OPTIONS for income

Biff:
I am very pleased that you have joined me in the UU. strangle trade.
It gives us a common interest and we can help one another with suggestions regarding a suitable exit .
I am not too familiar with ISAS which are of no interest to me.
Do I understand correctly that you have UU. shares in an ISA but the option strangle is outside the ISA ?So if the 700C are assigned, could you use your ISA shares for cover to meet the assignment ?
Re the legging in: yes, it's a bit of a hit and miss : I had intended to delay the sale of the puts until February/march when I expect to see some weakness of the UU. sp. However, the sudden surge yesterday(completely reversed today)pressurised me into taking early action to complete the strangle .
In addition to the earlier trade ,today I traded:
STO 5x UU.(675) 5x Sep 600P @ + 12.5 . The timing was not too good but while it is possible to snatch a better premium , it makes little difference.
All my previous sales of UU. throughout the year of 600P have resulted in full premium gain. However, should I be forced to buy at 600 , I am able and happy to do so .
At this point I should say a big thank-you to the stock option market makers who have donated so many premiums to me over the last two years .I notice that they are now very reluctant to trade inside the spread after having ended up repeatedly on the wrong side of the trade . Nevertheless, if you are very patient it is still possible to close a deal well inside the quoted spread .

Prof: "In both cases, underlying movement must overcome option time decay for you to be better off" . Good point but on a long-dated (six months) strangle a few weeks time decay during the early period does not amount to very much .
I think UU. will follow past seasonality next year but at a higher level . If so, I expect the sp to drop below 650 by March/april and to climb to 700 or above by early June . On the other hand, this is just speculation while the time decay is small but certain .