Buying Swing: buying long leg of new 520 pDS at .78-.80 wi

[MMASSASSIN]

Buying Swing: buying long leg of new 520 pDS at .78-.80 with .60 spread in mind, as a hedge on the bullish bets and if we fall we can turn it into a credit trough 525 only if the fall was big enough to allow a short above 5.00. We are still bullish and unfortunately was not able to open the 525 body today as we did the 2 days before due to the gap. We will still open the body if we fall back and allow 1.10 area exit. We still do have the 535 cOB for incase we get continuation. We removed the 535 body yesterday at .10-.15 plus we removed the calendar short protection that was protecting the longer term January 545 calls. As far as the long term calls we wish to before the end of the week , find a next week call position to again short against the contract amount we have on the 545 Jans to continue collecting premium and protect profits until we finally get the follow trough breakout.

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 !!