Selling Swing: shorted the 170 puts at 5.50 area same cont

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MMASSASSIN
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Selling Swing: shorted the 170 puts at 5.50 area same cont

Post by MMASSASSIN »

Selling Swing: shorted the 170 puts at 5.50 area same contract amount of the 165 puts we entered into at open at 1.60 area. On this play .90 = oversized so we now have a credit that had guaranteed profits and a max profit potential of 7.66 X oversized if we close at or above 170. we still hold the 155 puts from yesterday as a bearish hedge against a snap down if it was to come.

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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