Buying Swing: buying back 118 weekly puts at .54 area OVER
Posted: Wed Sep 07, 2011 3:20 pm
Buying Swing: buying back 118 weekly puts at .54 area OVERSIZED with mental stop bellow day lows at .49. Its not a lot of risk and it can help protect profits if we were to fall. Also have a mental stop on the last 120 weekly calls position at entry 1.20. Now if we fall then we fall into a balanced credit spread again plus additional profit protection with the 118 weekly puts. And ideally we move higher and were stopped out of the 118 weekly puts because that would mean the larger bullish strategy just keeps profiting.
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 !!