protecting the 1000% PROFITS ON $AAPL 385 puts by shorting $AAPL 380 weekly puts at 3.25 twice the contract amount trough $AAPL 375 puts at 1.50-.60 same contract amount this creates a butterfly with twice the contact amount on the 380 short as we have on the 385 and 375 longs

/s protecting the 1000% PROFITS ON $AAPL 385 puts by shorting $AAPL 380 weekly puts at 3.25 twice the contract amount trough $AAPL 375 puts at 1.50-.60 same contract amount this creates a butterfly with twice the contact amount on the 380 short as we have on the 385 and 375 longs. yesterday we did well to reverse out positions on $AAPL and $SPY bearishly and now $AAPL 385 puts that we entered into at .80 went passed 8 bucks so 1 thousand % pure profit, its retraced some here. Now by entering the butterfly we essentially lock in the profits and protect against a bounce but we are well positioned to exit the short if a bearish continuation is seen then holding both long legs. Its a way when you see the possibility of the position turning against you but larger picture you want to stay the corse , a way to hedge and suspend the decision till clarity is seen . all loses from last week have been erased today but missing the bearish gold play GLD from friday and the bearish GMCR puts I recommenced yesterday¬† but didn’t clear myself were 2 incredible plays that both made more than a thousand % gains¬† each, to those who entered. I missed both those plays that I recommended , why I don’t know, and they were both the sort of plays that come about rarely. Ok in closing if markets continue down the fall can be very big watch for $SPY reaching 117.60 yea we can fall in a matter of days THAT MUCH ON THE MARKETS according to my analysis. hence why Im hesitant about locking in profits on these bearish bets.

Posted in General Trading