Buying Swing: created 190 cOB by buying earlier long leg o

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MMASSASSIN
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Buying Swing: created 190 cOB by buying earlier long leg o

Post by MMASSASSIN »

Buying Swing: created 190 cOB by buying earlier long leg of 185 cDS at 1.65 area with .80 spread in mind, then the 195 long now at .35 area same contract amount. We are down a little on the first entry so as we here are at support we wish to be have the ability to reduce the risk if TSLA breaks down by entering a double short of 190s. If we were to bounce strongly and with that it would be a bounce slightly above 180 , then we would more likely than not focus on a butterfly but instead a 180 cCS if we can enter this 180 short leg about 5.80.
We wish to be bearish and are using this pullback as a way to position bearish if we get an intraday bounce. A bearish position with 600% max profit potential. If we don't get the intraday bounce and end up in the butterfly then we would leg into a 170 pDS something we rather not do from a low point like here.

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 !!