Selling Swing: creating SPY 205 206 209 cB call butterfly h

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MMASSASSIN
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Selling Swing: creating SPY 205 206 209 cB call butterfly h

Post by MMASSASSIN »

Selling Swing: creating SPY 205 206 209 cB call butterfly here by double shorting 206 calls at .54 area. Yesterday we shorted the 207 at .70 and covered today at .24, now were rolling down the body to 206/ But with that roll down we also must roll down the long 209 leg down to 208, still leaving us with a higher risk butterfly but with only some overall profits at risk. I dislike entering the short here and will put a mental stop on this entry at around .62 area.

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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