Buying Swing: ok today what we did was this, remember we ha

[MMASSASSIN]

Buying Swing: ok today what we did was this, remember we had originally a 161 butterfly that also had half the body of a 159 butterfly. So today we locked in an enormous mount of profits at .25 area from our short at 1.00 on the 161 short leg with intention of on a bounce entering the lower 160.50 short leg for the butterfly. we did not get the bounce so instead we went long the same 161 calls leg at .14 half the contract amount. Now we still want to enter the 160.50 short leg but we want also to reenter the short leg from 159 butterfly just for incase we fall further but we can only do this if we have a bounce. If not we have to focus it all on the 160.50 leg, this long 161 leg though will if we get a bounce decrease loss of profit plus if we were to get lucky enough to make part of the short legs free on a strong enough bounce, then significantly increase overall profit picture, since we would then be able to lock in profits on our long legs from 158.50 or 160 on what has already been a spectacular week thus far.

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 !!