Buying Swing: turned TSLA 310 305 300 cB call butterfly int

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MMASSASSIN
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Buying Swing: turned TSLA 310 305 300 cB call butterfly int

Post by MMASSASSIN »

Buying Swing: turned TSLA 310 305 300 cB call butterfly into a cOB call open body butterfly by covering the 305 position at 1.55 area. We are up on the whole butterfly from Fridays entry but now were using the snap up at open as a bearish opportunity. The size of the body makes this a huge bearish exposure but we believe 305 is the most likely magnet for Friday. If she has continued strength then we will use the mental stop out to exit 310 and 300 puts and remove exposure. If this works out and we have a pull back below 305 again then we wish to no matter what re-enter the short body at 4 buck area no matter what.

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 !!
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