Beta-Weighted Delta Gate
What it does
Keeps the book from leaning too far in one direction overall. Every position carries directional exposure, and a book that is individually well-sized can still be collectively one-sided, which is when a single market move tests everything at once. This gate measures the whole account's exposure in dollars per one-point move in the S&P, and once that figure passes the configured band it only allows new positions that bring the book back toward balanced. It never closes or shrinks anything you already hold: it only decides whether to open something new.
When to change it
Leave it on. Turn it off only if you are deliberately running a directional book and want position-level risk to be the sole control.
Safe range
ON or OFF. ON is recommended for any account running more than a handful of concurrent positions.
Example
The book is leaning bullish beyond its band. A new put credit spread (which would add more bullish exposure) is declined; a call credit spread on the same underlying is allowed, because it moves the account back toward neutral.