Buying Swing: buying back SPY 121 weeky calls at 1.21 10 ce

[MMASSASSIN]

Buying Swing: buying back SPY 121 weeky calls at 1.21 10 cents higher than just sold and selling SPY 118 weekly puts at .64 area mental stop area. Ok the nice thing about what we did with SPY is we are exiting and locking in profits as for the last post on our bets that are deep in the money, and we are taking bearish stakes that are at day highs but if we move up as we did now we can easily and did quickly tern into bullish stakes without taking much loss. 10 lost on the puts attempt and 10 cents missed on the SPY 120 calls but now we have a new higher % of balanced bullish strategy since we have the 121s and 120 long while short the 119 calls. Am not ready to cover the 119 weekly calls just yet. Also was stopped out of the GLD 118 weekly calls at .90. This may seam complex but it displays the flexibility in options trading. We still have the possibility of a market pull back after such a strong run. if needed I would not hesitate to increase the size of the 119 weekly calls short stake by doubling the short position now that we have both 121 and 120 long stakes. ok lets break this down now have 1/2 as much 117 weekly calls long , we now have 119 weekly calls shorts and same contract amount as long 120 plus also same contract amount long the 121 calls. so if we dubbed the short on the 119 weekly calls we would just be making it a balanced stake. As I am finishing writing this posts Im starting to now consider just exiting the short all together if we continue to move up. We are at a critical point we other burst brought and run into the close or we snap back strongly. hence why mentioning the 2 ways to react.

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 !!