Description
⋅ - Market is range bound after a downtrend
Expiry of options is soon (11AM EST)
Quick premium collection strangle trade
Comment
⋅ I am not going to lose $100 on either trade. With Nadex that's the max loss I can suffer on each trade if there were to be a big movement against me.
I do have a lower SL, and I am keeping an eye on things.
Trade closed: stop reached
⋅ Stop reached on the upper red strike - Sold out for -$40
Opened a buy contract and made my loss back
Trade closed: target reached
⋅ Target of $5 reached fairly quickly on the lower red line (strike price).