Buying Swing: AGGRESSIVE STRATEGY buying 515 calls at 2.94
Posted: Wed Jan 16, 2013 3:02 pm
Buying Swing: AGGRESSIVE STRATEGY
buying 515 calls at 2.94-3.10 1/2 the contract amount of the 520 short with intent of exiting 525s before the close turning this into a smaller butterfly. We may end up not exiting the 525 since we may want to have this as a extra 1x long leg this 525 if we continue to have strength at the close. So entering the 515 leg gives us the flexibility to at any time replace one of the 500 call butterfly long legs since the contract amount matches up, something you will see if ends up at other 515 or 520 levels before expiery and we wish to turn bearish.
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 !!
buying 515 calls at 2.94-3.10 1/2 the contract amount of the 520 short with intent of exiting 525s before the close turning this into a smaller butterfly. We may end up not exiting the 525 since we may want to have this as a extra 1x long leg this 525 if we continue to have strength at the close. So entering the 515 leg gives us the flexibility to at any time replace one of the 500 call butterfly long legs since the contract amount matches up, something you will see if ends up at other 515 or 520 levels before expiery and we wish to turn bearish.
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 !!