Buying Swing: we entered the 94 puts long leg at 1.35 area

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MMASSASSIN
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Buying Swing: we entered the 94 puts long leg at 1.35 area

Post by MMASSASSIN »

Buying Swing: we entered the 94 puts long leg at 1.35 area better than expected, and we entered earlier 1/2 the short body 98 puts at 3.60 area. Now looking to enter the rest of the short body around the same area. This would put us in a -pB--- that means the expensive put that we are up big on is the 100 puts from yesterday 1.80 area 2 strikes away from the 98 body, and the cheap puts long is the 94 puts 3 strikes from the body. Again a very wide wing butterfly especially on the out of the money wing. We can afford to make the out of the money wing so far out since it has so much premium and we have such a healthy profit in the bag.

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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