Buying Swing: buying 220 calls at 3.00 same contract amoun

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MMASSASSIN
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Buying Swing: buying 220 calls at 3.00 same contract amoun

Post by MMASSASSIN »

Buying Swing: buying 220 calls at 3.00 same contract amount as the long leg of 225 227.50 cDS at 2.40 area with a .60 spread in mind. . We had bought the 225 calls and quickly TSLA shaped down towards mental stop, so chose to turn it into an open body butterfly by buying 220 calls at this support. This way if there is further weakness we can double short 222.50. This is done to protect the strong profits on our bearish bets we did on on friday. where the debit alone 215 210 can yield 8x gain 800% profit.

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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