Buying Swing: when we lost the 112.30 support, we covered
Posted: Thu Sep 22, 2011 2:17 pm
Buying Swing: when we lost the 112.30 support, we covered the 112 puts at 1.30 short then went long enough contracts to make the money allocation equal to the long 115 and 114 calls . This brings us into a strangle overnight. Was considering shorting the calls but after a fall like this feel that can't short calls right now for incase we were to see a surpass turn around. This trend line lost today is huge and dates back months plus my formulas have the larger multi week and multi month direction terming negative on the larger markets. I would not be surprised to see tomorrow 500 point DOW drop tomorrow . I see such a enormous fall as a very real possibility .
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 !!