Selling Swing: creating credit spread 570 weekly puts trou
Posted: Wed Jul 25, 2012 10:50 am
Selling Swing: creating credit spread 570 weekly puts trough 565 weekly puts at 1.72 and 1.37 2X OVERSIZED. the initial entry was earlier today am here adding to the position with intent on buying long same contract amount of the 575 weekly calls long if we have any more weakness, turning this into an open body butterfly . Best case sinerio we here bounce and we can get the long leg in on a bounce, worst case sinerio we have to get the long 565 leg in during a fall but if it has continuation the strategy will still be profitable. Before the close we want a full butterfly with a closed body, so that means we have to have the 575 long or 580 long wing and we have to double the short on the 570 short puts 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 !!
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 !!