Buying Day Trade: Covered SPY 116 weekly calls short at .65
Posted: Fri Sep 09, 2011 2:48 pm
Buying Day Trade: Covered SPY 116 weekly calls short at .65 and went long SPY 115 weekly puts at .22-.25 OVERSIZED. the SPY short because of its size gave 2x oversized profits so it erased the loss on the 117 calls that will probably expire worthless. Now that the market lows were lost am making one last attempt directionally and bearishly on today expiery puts 115s. Frustrating week and at this point am looking at 4x oversized loss for the week as a whole. some weeks we do well this is not one of those weeks unless this last attempt works. if it dose not then add one more oversized loss and we stand at 5x oversized loss for the week. as I send this out the last attempt seams top be working against us. ( . some times we have good weeks sometimes bad weeks, its the name of the game. In the world of options this can be erased easily and why sizing is everything.
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 !!