Selling Swing: covering 585 weekly calls at 5.00-.10 BIG L

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MMASSASSIN
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Selling Swing: covering 585 weekly calls at 5.00-.10 BIG L

Post by MMASSASSIN »

Selling Swing: covering 585 weekly calls at 5.00-.10 BIG LOSS but holding 590 long leg. and locking in much smaller profits on 680 weekly calls credit spread at 1.05 area. then entering credit spread same contract amount 685 puts at 4.10 area and 680 weekly puts at 2.10 area. So the puts credit spread helped save us about .80 cents and now if we move higher we may be able to erase the losses entirely. Did not think that GOOG would go up after the samsung aapl trial, but here by holding on to the long leg on 590s as I send this we have almost erased the losses already.

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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