Buying Swing: buying 210 puts at 2.65-.85 same contract am

Here is where we post regarding stock picks on our swing trading ideas, from multi-day to multi-week both stock and option calls and puts, on the Nasdaq or NYSE.
User avatar
MMASSASSIN
Trading for living
Posts: 5599
Joined: Thu Jan 29, 2009 1:30 am
Contact:

Buying Swing: buying 210 puts at 2.65-.85 same contract am

Post by MMASSASSIN »

Buying Swing: buying 210 puts at 2.65-.85 same contract amount as the 215 puts add from earlier today creating a strangle. We are up a nice on the 215 calls we entered at 1.70-.75 now 6.61X OVERSIZED profits. Remember oversized in mind remains .60 as the old butterfly from friday placed us. We want to let her run so we don’t mind taking 1x loss on the puts side as a hedge here. If TSLA runs sharply to 219 next, then would look to buy 215 puts next and double short the 212.50 puts.

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 !!