Create your position so that it does not conflict with the 200 day EMA.
Do what you are comfortable with and understand.
Don't get fancy until you are ready.
Create your position with enough time in it so that you can respond to multiple
opportunities to exit. Be sure that if your exit requires you to sell something,
then that something is 'not' a distant strike in a far month. Think about who will
be the buyer of what you are selling and who will sell what you need to cover.
Margin needs to be conserved so that if your position is overrun or fails,
then a recovery strategy requiring margin is not precluded.