The market had a nice end of day drop and my puts on the Q's gave me a nice 25% gain from yesterday. I decided to take my money off the table at the close and will look for a trade again tomorrow.
So for this trade I had 5 contracts of the QQQQ Jan 29 Puts (QAVMC) with a cost basis of $1.00 and I sold them for $1.25.
There may still be some downside left on this move (roughly to the $28.65 level) but I think my next move will be a long on the Q's as we head back towards the $31 level.
So for this trade I had 5 contracts of the QQQQ Jan 29 Puts (QAVMC) with a cost basis of $1.00 and I sold them for $1.25.
There may still be some downside left on this move (roughly to the $28.65 level) but I think my next move will be a long on the Q's as we head back towards the $31 level.
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