Sold My Puts for Profits

By Mark on July 18, 2008 10:24 AM | 0 Comments
The Q's have had a nice retracement from the recent highs and are now hitting the lower end of my trading channel.  So I'm booking my profits here.

I was in 20 contracts of the QQQQ Aug 43 Puts (QQQTQ) at a cost basis of $0.70 and I sold at $0.80. This represents a more than 14% gain for this trade.

I'm starting to have a better feel for the markets after my recent vacation so I may start getting more aggressive with larger trades.

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