Selling Swing: closing body of butterfly by doubling short
Posted: Mon Aug 20, 2012 1:19 pm
Selling Swing: closing body of butterfly by doubling short 660 calls at 10.20-.10 removing risk and locking up big profits. Also buying 635 weekly puts at .93 area almost 2x oversized because we plan to short the 640 puts either on strength or after a pullback where we can bring up the value of the play. Again we do the long leg into a future credit spread being temporarily bearishly placed as a hedge, thats why its 2x oversized but ail be 1x only once we get the short leg in. huge smiles from friday were we now have about 333% oversized pure profits from friday ). almost a wee moment 400% would be a we moment ).
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 !!