Stop-losses are a great way to limit losses with stocks, but options are a different matter.
We dont use stop-losses often for one reason: Options are incredibly volatile. They can make quick, violent swings based on temporary or even irrelevant news. So an options stop-loss can be triggered even if the underlying stock is performing the way we want it to. That means we could be stopped out of a great trade that would eventually bring us profits if we had waited just a little longer.
Mainly, Jeff will only send you a stop-loss recommendation when an event threatens to capsize a seasonal trend just to make sure you are preserving capital.
Naturally, if you wish to set stop-losses on positions to match your trading tolerance level, that is certainly your prerogative. But as a strategy, it is not something we do when we initiate a position. We do, however, set protective stop-losses after a significant gain (+100% at least) to preserve profits so that we dont give back all of our gains in a downdraft.