Buying Swing: buying long leg of 500 497.50 pDS at 1.75-1.

[MMASSASSIN]

Buying Swing: buying long leg of 500 497.50 pDS at 1.75-1.85 area with a .55 spread in mind and OVERSIZED for sizing. This means that if the puts lose .55 we have an oversized loss so stop loss at 1.20. This may be a possible rising wedge that could snap the stock back intraday and if that was to happen then we may use the pullback to turn this from bearish to bullish by shorting the 505 puts. For the math to work and only 1x oversized to remain at risk we would need to get the short leg at a premium of 6.20 area.its unlikely we get the low risk credit but if we did then the max profit potential for the end rest of the strategy would jump to 10.45 X Oversized profit potential.

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 !!