Traders Playground

Buying Swing: Buying Swing: considering buying Jun monthly 320/310/300 butterfly for 0.90 and 300/280/260 butterfly for 2.00. Both plays are for hedging the existing long position. The intention is to cover 280 butterfly after earning so we would have June 300 straight long. Based on past week's movement, we know that 300 is now a floor. If we fall below 320 after earning, we will still profit from the higher butterfly and we will have extra 300 legs to protect any further weakness.