Buying Swing: covering short 625 calls at 3.90-.95 big los
Posted: Tue Aug 07, 2012 12:40 pm
Buying Swing: covering short 625 calls at 3.90-.95 big loss and shorting 615 weekly puts at 2.60 area same contract amount as our long 610 puts to create credit spread. ok going bullish again after taking more than an oversized loss intraday today here. still holding the 630 calls long and it is a strong bullish bet. The spread on the puts is now less than oversized so enough to erase losses there and bring us profits but now closer to 70% of an oversized profit potential on this new credit spread on puts. This was the best bearish setup on AAPL and I think it failed to break if the best bearish bet fails to follow trough I have to think this strength should have continuation. Very shopy worst case sinerio we fail to take off here because we are still positioning for volatility, this time bullishly as we were at open.
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 !!