Selling Swing: turning 590 585 580 pB into pOB = put Open

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MMASSASSIN
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Selling Swing: turning 590 585 580 pB into pOB = put Open

Post by MMASSASSIN »

Selling Swing: turning 590 585 580 pB into pOB = put Open body butterfly by covering 585 puts body at 2.00 area. We are creating bearish protection against the 190 calls that are up so much from friday. If moves higher then there is a strong chance we get bullish continuation so would intraday enter a body but this time at 587.50 hopefully at 2.00 or slightly higher as to mitigate loss, but by the close move it back to 585. If we do not move it back to 585, then we would only eave 1/2 short 582.50 overnight. We would be speaking 3 steps down the line though.

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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