Selling Swing: creating a 210 205 200 pB by covering short

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MMASSASSIN
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Selling Swing: creating a 210 205 200 pB by covering short

Post by MMASSASSIN »

Selling Swing: creating a 210 205 200 pB by covering short leg of 200 197.50 pDS from yesterday, then adding enough 200 puts at .55 area, to make it same contract amount as the 210 puts. Once thats done we double shorted the 205 puts at 2.15-2.20 area. So what we did was use the existing leg of an old debit to help build this new butterfly reducing our bearish exposure. did have a pullback but now its showing strength, and we are considering removing 1/2 of the 220 short leg if this strength continues.

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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