Possible significant move up to and beyond 212.50
or a drop back to 207 support and below
SPY             STRADDLE
SPY             JULY 8 212 CALL @ $.15
SPY             JULY 8 209 PUT @ $.30
Equal amounts invested in each

Options involve risks and are not suitable for everyone. Option trading can be speculative in nature and carry substantial risk of loss. Only invest with risk capital.
Comment: Put has doubled now $.72
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.
Comment: If you had bought the 212 call at the end of the day that option is up over 300%
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.
Comment: Watching 212 to see if the call has more upside.
Still time left to go higher.
Comment: Over 212
looking to hold 212 and continue to 212.50
212 call option up 800% from yesterdays close
Comment: 212 call is a 10 bagger up 1000% high of the day so far
Comment: Pausing/stalling at 212
losing momentum
tightening up trailing stops might be a good idea here.
Comment: Approaching 212.50 target
Still some gas in the tank
Maybe getting second wind.
Comment: 212.50 hit
next target 213
212 call now up 1100%
Comment: High of the day for the call was $.93
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
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