The Q's rocketed down this morning on the ISM and construction news. They blew through S1 and S2 and I decided to sell for a profit at this point so I can stop watching the markets. I have tons of work to do in the office right now and this was setup to be a quick swing trade. The Q's may still have some downside all the way down to the $49 level. But I don't have the time to watch it from here.
So for a recap, I was in the QQQQ Jun $49 puts with a cost basis of $0.50 and I sold at $0.79. This represents a 58% gain on a trade that lasted about 2 market hours.
So for a recap, I was in the QQQQ Jun $49 puts with a cost basis of $0.50 and I sold at $0.79. This represents a 58% gain on a trade that lasted about 2 market hours.
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