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DE at 417.95
The chart is setting up bearish, looking for a move towards 410
Risk Profile:
Order Ticket:
Risk: 4.20
Reward: 5.80
POP: 50%DE at 407.30
This trade is working in our favor and is near my first target of 30%
We can do one of two things here:
1. Do nothing
2. Take risk out or close the trade and re-positionHere’s an idea for a trade that is more than 1 contract per spread.
Selling a put spread at 420/400 strikes will convert this put debit spread into a risk free put butterfly
Risk Profile:
Order Ticket:
*** A single contract can not convert this into a butterfly, closing out for a profit is a good way to manage risk here.
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