10 contracts is more manageable for you to follow than 40 even though 10 is still big if you are just learning. If I read it right you have 10 60/70 bull call spreads so now you need LEH to cooperate. With LEH at 64.45 or so it is good. I do not remember what your net rolled into debit it so not sure where you profit at expiration is but you should try and calculate your net debit for the rolled into spread so you know the risk/reward now and where your expiration breakeven point is.
The biggest thing you have to remember is that you are trading off of the underlying stock. If the stock collapses you have to have an UNCLE point on the chart where you will bail. For example if support is taken out hard then more downside is likely which will hurt the call position and you bail.
This will help you set up a stop loss point if you are working off the LEH chart when you first open the position.
The biggest thing you have to remember is that you are trading off of the underlying stock. If the stock collapses you have to have an UNCLE point on the chart where you will bail. For example if support is taken out hard then more downside is likely which will hurt the call position and you bail.
This will help you set up a stop loss point if you are working off the LEH chart when you first open the position.
