Buying Swing: buying SPY 212 this week puts at .45 same con
Posted: Thu Jul 16, 2015 11:54 am
Buying Swing: buying SPY 212 this week puts at .45 same contract amount as the 211 next week puts we bought earlier today. these are almost in the money so very high extrinsic value but we will have a tight 1x mental stop on it. this allows us to on a pull back short either 211 this weeks or 211.50s if we had a pull back here. Already over 1x loss on todays entry on 211 next week puts but holding trough since we hit the 50% fib extension at 212.07 area and we have a full week before they expire.
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 !!