Hi, Lately, I have been playing with option strategies that have positive theta, positive delta and positive vega. The positive theta ensures that the strategy makes money as time passes by. However, the interesting question is how to balance delta and vega. As the underlying rises, vol comes down. Hence, the profit of the up-movement of the underlying should compensate for the loss resulting from long vega of the option strategy. Now, my quesiton is what is the optimal relationship between delta and vega. For example, if my delta is 100, how big should vega be to equalize profit and loss? I am familiar with weighted vega... So if anyone has an idea how to balance vega and delta, please share! Thanks!!