Selling Swing: moving into calls credit spread by reenteri

[MMASSASSIN]

Selling Swing: moving into calls credit spread by reentering the full body of the 615 weekly calls short at 2.45-.35 and then selling our 610 weekly calls at 4.10 area and moving that contract amount up to the 620 leg doubling its size at around 1.15. ok to trecap yesterday we had a 615 butterfly with long 610 and 620 and the 615 body short ofcorse. Today after a pullback we bet on a bounce by locking in profits on the short 615 body. Unfortunately we did not bounce and instead fell further putting us in strong losses. Now that we have bounced back some but never seen a real sing of strength am reentering the 615 short body and simply moving the 610 leg up to the 620 leg leaving a 615 trough 620 credit spread. Im trying to explain since so many seam to get confused. We still have to wait for 2:15 FOMC announcement, and if the market gains and holds gains after the first 5 minutes and with it bringing back up, then may be forced to renter the 610 calls. Right now has not had the bounce that would tell me that she remains strong as lunch ends so the possibility of a big closing drop is now more likely.

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 !!