Buying Swing: AGGRESSIVE STRATEGY reentering 435 long leg
Posted: Thu May 02, 2013 2:52 pm
Buying Swing: AGGRESSIVE STRATEGY
reentering 435 long leg at 12.60-13.20. this turned the weekly 440 cCS back into a cB. we tock our time getting clears on this one since we wanted to find entries around the 12.70 area
also removing the 455 short leg at .66-.69 to create 455 cOB . this one we did faster since the position was cheaper and for incase we had a strong spike it would offset the credit position on 440s. so again once we saw bodes on candles appear above 447.70 we started taking bullish stances and looking at the old intraday resistance as a support and buying level when it retraced back to it. has been coiled up all day and if we get a move it can be very fast, this gives us exposure on the top side but brings us back into a perfect butterfly no risk big reward 440 cB. If we do not see continuation up then when we reenter the 455 we will enter it twice the contract amount to close up the butterfly there swell and be ready with 2 butterflies into friday expiry.
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 !!
reentering 435 long leg at 12.60-13.20. this turned the weekly 440 cCS back into a cB. we tock our time getting clears on this one since we wanted to find entries around the 12.70 area
also removing the 455 short leg at .66-.69 to create 455 cOB . this one we did faster since the position was cheaper and for incase we had a strong spike it would offset the credit position on 440s. so again once we saw bodes on candles appear above 447.70 we started taking bullish stances and looking at the old intraday resistance as a support and buying level when it retraced back to it. has been coiled up all day and if we get a move it can be very fast, this gives us exposure on the top side but brings us back into a perfect butterfly no risk big reward 440 cB. If we do not see continuation up then when we reenter the 455 we will enter it twice the contract amount to close up the butterfly there swell and be ready with 2 butterflies into friday expiry.
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 !!