I sold my calls this morning for a loss. We had some strength this morning and I may have gotten some more money back, but the market is looking week again. So I took back what I could from this trade.
For recap I was in 80 contracts of the QQQQ May 50 Calls at $0.26 and sold at $0.09 for a loss of 65%. I still think we will see some upside to the Q's this week, but I think there is just not enough time left in these May contracts to recover any additional gains.
My next move will probably be to the downside with some puts later this week.
For recap I was in 80 contracts of the QQQQ May 50 Calls at $0.26 and sold at $0.09 for a loss of 65%. I still think we will see some upside to the Q's this week, but I think there is just not enough time left in these May contracts to recover any additional gains.
My next move will probably be to the downside with some puts later this week.
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