How to Interpret Adjustments to the Tested Side

<p>Our go-to protocol for adjusting positions is to <a href="https://ontt.tv/2LwSZYV">roll the untested side of the strategy</a>. Doing this offers the dual benefit of widened break-even points and reducing risk in the position. Still, there are times when we are forced to <a href="https://ontt.tv/CmLHn">roll the tested side</a> of the strategy in order to keep the position alive. When this happens, how do we interpret how the adjustment to the tested side alters the risk-return profile of our position?</p><p>Today, we take a look at our PINS position and the roll to the tested side that we had to make to answer this question.</p>