Buying Swing: Creating a 4 leg butterfly by adding 605 cal

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MMASSASSIN
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Buying Swing: Creating a 4 leg butterfly by adding 605 cal

Post by MMASSASSIN »

Buying Swing: Creating a 4 leg butterfly by adding 605 calls at .73 area same contract amount as the short on 600 calls then tripling to the 600 calls short at 1.44 area. So in other words we are doing very well on thus far with the initial 590 trough 600 calls debit spread from friday plus the add on 595 today, but now wish to protect those profits while remaining bullish by adding the 605 leg also came contract amount and then making shire that we have the same contract amount short on the 600 leg as we are long on all 3 calls legs put together. If this butterfly has a name let me know.

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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