Replies to post #1854 on Chelsea Therapeutics Intl Ltd fka CHIP

[Ned Serious]

Thank you for detailing your moves. It helps me to understand. Much appreciated.

[Prana1]

Good morning Nolerman.
I tried your strategy with chtp and you are correct both my puts and calls of the strangle are up by 20-30%.
And I could just sell them and close the trade with a profit.
The only thing I realized ( and correct me if I am wrong ) is that you need to keep on exponentially adding to the one side of the leg ie 2,4,16,32 to average it down.
I hope the above makes sense.
Once again thanks.