The Obama administration is promising an aggressive effort to combat
the worst financial crisis in seven decades, unveiling a program that
could mobilize well over $1 trillion in public and private support to
get the frozen credit markets functioning again.
Well as they are speaking the markets are in free fall. The Q's have gone down over 2% from the open and I decided to take my profits on my put trade here. They may continue lower, but I'm taking what I can.
For recap I was in 40 put contracts of the Mar 30 Puts on the QQQQ (QAVOD) with a cost basis of $1.10. I sold my contracts at $1.35 which gave me a greater than 22% gain on this trade.
Well as they are speaking the markets are in free fall. The Q's have gone down over 2% from the open and I decided to take my profits on my put trade here. They may continue lower, but I'm taking what I can.
For recap I was in 40 put contracts of the Mar 30 Puts on the QQQQ (QAVOD) with a cost basis of $1.10. I sold my contracts at $1.35 which gave me a greater than 22% gain on this trade.
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