I had some fairly good timing on yesterday's trade. Well the market turned up right after I took my profits on my puts from yesterday. The Q's went back up to the top of my trend channel so I'm going to try the puts again. I'm still thinking we will see the lower $28 level sometime this week and I want to take advantage of that move. I was not going to be in the market today since I was going to be away from my trading desk. However, the recent snow storm cancelled my plans, so here I am doing another trade.
For this trade I bought 40 contracts of the Feb 29 Puts on QQQQ (QAVNC) with a cost basis of $1.00.
For this trade I bought 40 contracts of the Feb 29 Puts on QQQQ (QAVNC) with a cost basis of $1.00.
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