Buying Swing: bought long leg of 200 197.50 pDS at 3.00 ar

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MMASSASSIN
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Buying Swing: bought long leg of 200 197.50 pDS at 3.00 ar

Post by MMASSASSIN »

Buying Swing: bought long leg of 200 197.50 pDS at 3.00 area with .75 spread in mind. And we reentered the short leg of the 205 210 cDS at 3.20 area. We reached the declining trend line and also the fib extension so were now focusing on some bearish protection. This declining trend line dates back to all time highs and if we were to see a 30 min candle break the trend line, then we would look to double the 215 calls leg that serves as a wing on our butterfly from friday. because if we break that trend line then we have a new bullish directional breakout. For now we have to see this level as strong resistance since its held true since all time highs.

This trade is one part of a larger strategy so please look back at Previous posts to see the whole picture. AND IF YOU ARE NEW, PAPER TRADE FOR AT LEAST A FEW MONTHS because this is ADVANCED OPTIONS TRADING !!
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