Buying Swing: buying here 575 weekly puts 1.5 x oversized

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MMASSASSIN
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Buying Swing: buying here 575 weekly puts 1.5 x oversized

Post by MMASSASSIN »

Buying Swing: buying here 575 weekly puts 1.5 x oversized at 1.05-1.10 , the reason for the larger position is since this will be the long leg of a future credit spread after a pullback trough 580s. I believe we can easily get a full gap cover, that would not remove the multiday bullish direction on . at a gap cover I would consider shorting same contract amount of the 580s to move into a credit spread on puts hence why am positioning this long leg as if the spread was 70 cents on a credit spread. If we move higher then would not hesitate to pull the trigger on the short leg even if it hurts and brings down the spread.

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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