Selling Swing: exited the 530 puts at 1.61 , we broke trou

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MMASSASSIN
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Selling Swing: exited the 530 puts at 1.61 , we broke trou

Post by MMASSASSIN »

Selling Swing: exited the 530 puts at 1.61 , we broke trough resistance nicely big smiles ) also am buying 540 weekly calls at .35 area to create a cO2B so same contract amount. This gives us the ability to double the 535 short leg latter , hence butterfly, or if the run was to be strong enough and we saw more than 10 bucks for the 530s we could remove the 530 leg and end up in a low risk credit with all profits locked in well above 2000% gain. Now the credit scenario is less likely ofcorse.

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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