selling SLV 34 weekly puts and moving to 33 puts weekly by selling 34 puts at .65 from .17 282% profit and going long 33 weekly puts at .15-.19 same contract amount

 

/s selling SLV 34 weekly puts and moving to 33 puts weekly by selling 34 puts at .65 from .17 282% profit and going long 33 weekly puts at .15-.19 same contract amount and mentainin a vertical position with the short on 35 puts that are hurting very badly with greater losses than profits not he hedge. The reason im locking in profits on the puts long and moving the long down to 33s is in preparation of a silver bounce after this fall. This brings up my downside risk though, but if we bounce this should bring down the premium on the 35 puts and since less money is on the 33s then the profits on the move down on the long leg become protected. Am tempting to do a calls long now.

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