Buying Swing: covering 222.50 butterfly body at 3.00-3.30

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MMASSASSIN
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Buying Swing: covering 222.50 butterfly body at 3.00-3.30

Post by MMASSASSIN »

Buying Swing: covering 222.50 butterfly body at 3.00-3.30 to create a full open body . We will keep the long legs to have a bullish hedge on our bearish strategy from friday. Locking in 6.5X Oversized profit ).Turning a cB into cOB. If there was more weakness then would look lock in the 220 calls next. Ideally we wish to renter these calls at a higher premium on a bounce.

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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