I just bought 20 contracts of the QQQQ May 46 calls (QQQET) at a price of $0.75. This purchase order was done about 2 minutes before the close of the market. I expect to close this trade on Monday or maybe as late as Tuesday of next week. I think we will have a bounce off the oversold condition from todays trading.
I also just bought 40 contracts of the QQQQ June 50 calls (QQQFX) at a price of $0.25 as an initial open to some longer term trades (i.e. several weeks.) I will be holding these (and maybe adding to them on weakness) for the next couple of weeks to play the change in market trends I'm starting to see develop.
The Q's traded down all day and I was never able to get in on the short ride yesterday. They never filled the gap from this morning, so that is the next target on the upside move I see for Monday. Today they did ride down to the low $44's and it would have been a sweet ride in the puts, but you can't win them all. The good news is that it was nice to get confirmation that what I saw at market close yesterday played out correctly today. The more I study, it seems the more I'm able to get a feeling about future direction. It is all a learning process, and I'm glad that I'm making progress in the right direction.
I also just bought 40 contracts of the QQQQ June 50 calls (QQQFX) at a price of $0.25 as an initial open to some longer term trades (i.e. several weeks.) I will be holding these (and maybe adding to them on weakness) for the next couple of weeks to play the change in market trends I'm starting to see develop.
The Q's traded down all day and I was never able to get in on the short ride yesterday. They never filled the gap from this morning, so that is the next target on the upside move I see for Monday. Today they did ride down to the low $44's and it would have been a sweet ride in the puts, but you can't win them all. The good news is that it was nice to get confirmation that what I saw at market close yesterday played out correctly today. The more I study, it seems the more I'm able to get a feeling about future direction. It is all a learning process, and I'm glad that I'm making progress in the right direction.
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