Buying Swing: covering the short on 123 Dec puts at 1.10 a

[MMASSASSIN]

Buying Swing: covering the short on 123 Dec puts at 1.10 area then bought 121 Dec puts at .45-.50 same contract amount. We still hold the long on 119 puts. The strategy here is not to fight the tape as the market lost the day lows and bonds continued to go higher while Euro collapsed further making the position fully bearish and the long on 121s a full 2x oversized stake. the us markets have fought the euro correlation all day but at this point there is to much negative headwinds , if we do build again then I would look to again short the 123 Dec puts and this time can make the position even larger due to the 2 long legs already on the table. As far as still hold the short on 390 puts and am considering shorting other the 395 or the 390 calls if SPY loses 123.55.

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 !!