Buying Swing: buying 121 puts at .45-.46 OVERSIZED for day

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MMASSASSIN
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Buying Swing: buying 121 puts at .45-.46 OVERSIZED for day

Post by MMASSASSIN »

Buying Swing: buying 121 puts at .45-.46 OVERSIZED for day trade. Here the strategy is to profit of a pullback that should come intraday after such a huge gap up and continuation. I am still long the 119 puts that we had almost 100% profit on yesterday but today wake up to see profits replaced by losses. On a pullback that should bring SPY back down intraday to 121.50 area I can lock in profits from this day trade and then short these same 121 puts and keep the 119 puts as the long leg of a credit spread. OK I am turning market bullish but believe that fist we should pullback again as far as larger strategic thinking.

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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