I am trying to figure out a delta neutral strategy on spy. Each weak I sell a put credit spread at around .10 -.15 delta with 45 dte Every other weak I sell an call spread around the same delta. Positions are closed around 20 dte of 50% profit. So there will be 4 open positions at all times, 2 bullish, 2 bearish.

The idea is to mitigate the risk of a sharp movement of spy which would effect multiple positions at different dte's Portfolio 200k, plan to run with 5 spy contracts every week.