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Selling Swing: shorting 119 Sept calls at .90 area and buy

Posted: Wed Sep 14, 2011 1:09 pm
by MMASSASSIN
Selling Swing: shorting 119 Sept calls at .90 area and buying 121 weekly calls at .29 both of them same contract amount as the long 118 weekly calls position we still hold. Finally we have reached the first target of 118.76 on the SPY even though second very reachable target is 121. This creates a butterfly with long 118 short 119 and long 121 calls on SPY. Now if we were to here see weakness reemerge I can now easily exit the 118 weekly calls , but til then this becomes a even stronger bullish strategy with some protection.

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 !!