Hi Blasher, well said & you are right...There should always be the drop below foundation strike plan...
All of these things are calculated & weighed before any entry... Not a whole lot of traders here have been interested in spreading options so I've been focusing on sharing directionals...
In time, when there are more traders here interested in Debit Spread LEAP's I will put out a lot more content... 70% of all my trading are these Debit Spreads...I only trade 5% total allocation for directionals...
With the Debit Spreads that I set-up it's more of a "range direction" that I focus on...I target a lot of stocks that have fair sized corrections already priced in...As well as anything that increases the probability of success...I dont take many losses with these trades...Of course there are times when the stock goes against you, but you always have the chance to re-establish a new option angle... There are so many choices to make/contemplate with these trades...
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