Selling Swing: shorting 607.50 calls at 1.09-1.07 area to

[MMASSASSIN]

Selling Swing: shorting 607.50 calls at 1.09-1.07 area to create a 605 607.50 615 cB we intraday credit risk. We have lost the profits from yesturday , and this locks in a temporary loss. , if strength were to reemerge on then would look to buy the 610 calls long with intention of exeting the 615s before the clone unless a bounce were strong enough to allow it to increase the size of the current debit at that area. On the puts side did a put butterfly 590 585 580 that removed the 585 leg of a previous Friday butterfly . What this did was give us a stronger bearish profit area all e way done to 575 for max profit since the butterfly left the long legs only partially covered with a short inbetween. We can at any point move part of the 575 short body up yo 585 and exit the corresponding Friday butterfly long legs on puts. This sounds complex on but no premium decay works further in our favor on that side.

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 !!