Third Time a Charm? Buying Puts Again

By Mark on July 31, 2008 11:05 AM | 0 Comments
The Q's and the market moved up strong this morning and tacked on some decent gains of over 1%. They are now telling me they are over bought and I'm buying some puts again. I think they will float back down today to digest some of these strong gains.

For this trade I purchased 100 contracts of the QQQQ Aug 44 puts (QQQTR) with a cost basis of $0.32.

I'm being extra aggressive here and I will be keeping a short leash on this trade and may be out before noon if we don't see some downside action

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