The move I expected yesterday finally showed up today. I was able to sell my puts on the Q's for a respectable 10% profit. If I had waited to get in this morning I could have had a much better entry. However, you just try to get what you can.
For recap I was in 40 contracts of QQQQ Aug 44 Puts (QQQTR) with a cost basis of $0.55 and I sold at $0.60. This represents a greater than 10% profit on this trade.
My next trade will probably be to the long side once this downside move finishes. We are near the bottom of my trend channel, so the upside move should be starting soon.
For recap I was in 40 contracts of QQQQ Aug 44 Puts (QQQTR) with a cost basis of $0.55 and I sold at $0.60. This represents a greater than 10% profit on this trade.
My next trade will probably be to the long side once this downside move finishes. We are near the bottom of my trend channel, so the upside move should be starting soon.
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