Traders Playground

Selling Swing: sold the 107 weekly puts at 3.65-3.50 area then shorted same contract amount. Since we earlier went long the 95 puts we can now lock in the profits on the long 105 that used to serve as the credit spread leg of our 110 weekly puts short. Now that we have locked in the profits on the 105 puts and then shorted them, a move back up would now help erase the losses plus if we can get above 110 and hold above it turn the week NFLX strategy profitable in the end.

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 !!