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Cotton Option trade thoughts

Whew! What a two day move! As much as I want to hold for the duration, prudence says to take some money off the table. I placed an exit order to liquidate 2 of my now itm 8500 calls, effectively reducing my exposure considerably. If filled, I will probably put the second of three legs on, making a Butterfly spread. As mentioned earlier, I'd like to short the 80's or 78's. That's next. The third leg will re-open the downside profit opportunity with the purchase of some lower strikes than those that I sell, allowing me to profit if the market continues to drop into the harvest.

Of course, that's just my opinion. I could be wrong.

Stomper

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Cotton Option trade thoughts
Re: Cotton Option trade thoughts