or a drop back to 207 support and below
SPY JULY 8 212 CALL @ $.15
SPY JULY 8 209 PUT @ $.30
Equal amounts invested in each
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2 hours left in the day.
will hold until tomorrow to play the news
could average down on the call to balance the trade
or wait until the end of the day to balance it.
End of the day is the best time to set up the straddle ahead of a news event.
The put would be basically worthless at this time.
From the original suggestion time the straddle didn't work this time.
If you sold the put when it was up 100% and averaged down on the call
at the end of the day when it was $.05
then the trade would have possibly been profitable.
Still time left to go higher.
looking to hold 212 and continue to 212.50
212 call option up 800% from yesterdays close
tightening up trailing stops might be a good idea here.
Still some gas in the tank
Maybe getting second wind.
next target 213
212 call now up 1100%
Based on our original position that is a 100% profit.
SPY JULY 8 212 CALL @ $.15 plus SPY JULY 8 209 PUT @ $.30 = $.45
But if you bought the calls at the calls at the end of the day that
represented a greater opportunity as the 212 CALL went up about 2000% from the yesterday close price of around $.05