Selling Swing: selling 1/2 of SPY 117 weekly calls at 3.30
Posted: Wed Sep 07, 2011 2:00 pm
Selling Swing: selling 1/2 of SPY 117 weekly calls at 3.30 area from .84 so 292% profit and buying SPY 118 weekly calls at .71 area OVERSIZED. Also selling SPY 120 weekly calls at 1.11 from .78 and buying same contract amount of the SPY 121 weekly calls at .62 so in other words rolling up the position but if we pass day highs with strength, then would renter the long on 120 weekly calls same contract amount higher. This strategy is meant to start locking in profits and if we are strong enough after Beige book then focus on higher % yielding higher up calls that are cheaper.
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 !!