Buying Swing: buying 137 march calls at .43 OVERSIZED SPY
Posted: Tue Mar 06, 2012 1:13 pm
Buying Swing: buying 137 march calls at .43 OVERSIZED SPY hit exactly the level we called for yesterday of 134.70 support. Now that we have candles on hourly with only wicks bellow the level am using todays pullback as a bullish opportunity. if it dose not work we could easily short 136s but i think that if we get positive employment data then a big market rally continuation can easily be seen from these levels that date back months as support resistance critical area. There is a lot of risk with such a big pullback but the risk reward if we get a bounce is of a move up worth many multiples. its all about fridays data and these calls expire next week, 100% loss on bad data or 400% + gain on positive data.
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 !!