Buying Swing: buying 119 weekly puts at .47-.48 oversized.

[MMASSASSIN]

Buying Swing: buying 119 weekly puts at .47-.48 oversized. initial bearish stake on S&P etf. SPY has had so much difficulty getting above 122.75 and holding it and since here the markets are failing I see a possible fall this week with no support till 117.60 the levels I mentioned last week. Such a fall would be a very big drop if it happened in a matter of days and with the low holiday volume its harder to predict direction but the % return would be so great if such a fall was to happen so that I have to make an attempt. If we get market strength we can always use this as the long leg on a closer to the money credit spread worst case. So right now I am bearishly placed on SPY and IMAX though a bit iffy about imax, and bullishly placed on TLT bond etf.

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 !!