Selling Swing: Creating Iorn Condor shorting weekly credit
Posted: Wed Aug 29, 2012 10:15 am
Selling Swing: Creating Iorn Condor shorting weekly credit spread 680 puts short at 3.80-.50 and long 875 puts at 1.80. spread 1.85 area Today GOOG exploded despite the samsung loss against . So now we have a big loss potential on the 685 calls credit spread we entered earlier in the week monday. so rather than take a loss we can add a new credit spread same contract amount on the puts at 680n line creating an iron condor and protecting us against 1.85 of the risk. If we push higher then the next step could be to double the calls long 690 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 !!