Buying Swing: covering short 116 weekly puts at .35-.40 fr

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MMASSASSIN
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Buying Swing: covering short 116 weekly puts at .35-.40 fr

Post by MMASSASSIN »

Buying Swing: covering short 116 weekly puts at .35-.40 from 1.10 and selling then shorting 117 weekly puts at .55 area same contract amount as the long on 118 weekly puts. Ok yesterday during the fall at day lows we shorted SPY 116 puts and now the theta has us at nice profits but with this pul back want to have more protection so am selling then shorting 117 weekly SPY puts to replace 116 as the 118 puts debit spread now trough 117 instead of 116.

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 !!
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