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Selling Swing: creating a credit spreads on and weekly today expiery puts. on doing 133 trough 132 puts at .33 spread area. and on rolling up to 575 trough 570 puts at .60 cent area after locking in profits on 570 puts credit spread.I will now explain the whole strategy of what I will leo if the market turns against our current strategy. if we get sideways action then these plays serve to protect us against theta on our today expire long calls stakes. If loses day lows then would short same contract amount of the 575 puts as we entered into the long puts to create a bit of an iron butterfly action. Also if brings up the credit spread to .50 cent area then to protect would short same contract amount of the 133 calls as the long on 134 calls. that would be a very big credit spread. Next step if market fell more would be on at 100% loss on the credit spread to let go of 1/2 of the short leg and at 150% spread exit the whole short . On the strategy is different if we get to 100% loss on the spread because we gain 100% from entry then would double the long 132 leg, and if we were to gain 150% on the spread then would remove the short leg.

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 !!