Pop QUIZ - ?

I'm long June 15 2007 QQQQ puts from .48 today.
What kind of move do I need to sell at 1.00????

 

Why do I ask - because I feel I would be better off with in the money puts cause this one may be too out the money so i'm wondering what kind of move do i need for a double

 

QQQQ price of 45?

 

June 45P, 26d. Need 1.40 handles at static vol/time, so TL is correct.

 

yes the strike price is 45 - forgot to mention.

 

what does static vol/time mean? I'm guessing you mean that if the Qs droped 1.4 to 45 today the puts would be priced at 1.0
what kind of move would be needed for the puts to be priced at .70?
Have a bad feeling about this trade, going to buy some in the money puts.

 

Looks like about QQQQ 45.90

 

Probably closer to 45.85