Buying Swing: bought SPY 119 weekly puts at .85 area 2x ove
Posted: Tue Aug 30, 2011 12:59 pm
Buying Swing: bought SPY 119 weekly puts at .85 area 2x oversized and re shorted SPY 121 weekly puts at 1.54 area same contract amount as the long on 122 weekly calls so now we have a bit of butterfly positioning with short 121 long 122 and 123 and short 124 weekly SPY calls. I dislike having to change my positioning so much today but did not realize or forgot that we were hitting a trend line that dates back 2 years today and that it may become very strong resistance. With that in mind a long on 119 weekly puts has us stronger bearishly placed again till multi day negatives clear on my formulas.
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 !!
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 !!