Selling Swing: shorting 161 calls at .51 same contract amo

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MMASSASSIN
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Selling Swing: shorting 161 calls at .51 same contract amo

Post by MMASSASSIN »

Selling Swing: shorting 161 calls at .51 same contract amount as 160 long leg, instead turning this into a very large cDS. We could lock in the profits right now by turning this into a butterfly by shorting 159 or 159.50 since we are still long 158.50, but choosing to remain bullish for now overnight even though we are having a lot of difficulty passing 160.24 resistance. This means that if we pull back we won't increase our profits the way a closed butterfly would.

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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