Buying Swing: SPY hit our target of 198.85 and we covered t

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MMASSASSIN
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Buying Swing: SPY hit our target of 198.85 and we covered t

Post by MMASSASSIN »

Buying Swing: SPY hit our target of 198.85 and we covered the short body of SPY 199 197 195 pB put butterfly. as posted earlier. We entered the 197 puts at 1.00 area covered at .75 so thats 5X Oversized profit already. now she is trading at .95 so up another 4x oversized. This is just following the strategy outlined yesterday with a target we had since the lows last week . We have nice profits but we wish to hold what now is a huge bearish position but now moving the mental stop to renter the body to .70 . I think a nice sharp retracement now is warranted and that would then again become where we move from hugely bearish to bullish .

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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