The Q's are down again today and I decided to sell my puts and book a nice profit. It may continue down some more, but they seem to have found a base of support at the current $42.20 levels and there is no reason to hold them over the weekend. The fed is also doing some dramatic things recently (i.e. bailing out BSC) and unannounced fed cuts. So no reason to watch my profits vaporize.
I purchased 40 contracts of the March 42 puts yesterday at $0.42 and just sold them now for $0.80. This represents a 90% gain or $1500 in less than 24 hours. Now if only I could do that everyday.
I purchased 40 contracts of the March 42 puts yesterday at $0.42 and just sold them now for $0.80. This represents a 90% gain or $1500 in less than 24 hours. Now if only I could do that everyday.
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