We had some great movement in the Q trading this morning on some decent volume. A little after 10AM the Q's skyrocketed up to the upper end of my trading channel and I took the opportunity to take my profits on my open call options.
For recap I was in 40 contracts of the QQQQ Aug 46 calls (QQQHT) with a cost basis of $0.70. I sold these contracts this morning at $0.91 which nets me a profit of 30% on this trade.
Now I will be looking at adding some puts to swing the Q's back down to the lower end of the trend channel.
For recap I was in 40 contracts of the QQQQ Aug 46 calls (QQQHT) with a cost basis of $0.70. I sold these contracts this morning at $0.91 which nets me a profit of 30% on this trade.
Now I will be looking at adding some puts to swing the Q's back down to the lower end of the trend channel.
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