QQQ OTM Call option trade - August 15-19 This is Trade #3 of my QQQ option trades posted LIVE on EliteTrader. My plan this week is to buy a 1 strike OTM QQQ Aug19 call on Tuesday or Wednesday, just before the market closes. I will update once the trade has been opened, or if any changes are planned - such as entering a strangle instead. Trade #1: +15% QQQ options VERY expensive Trade #2: +56% My QQQ option trade plan this week. --------------------------------- I put the ELITE in EliteTrader
Buy QQQ 53 Put - Live trade in progress. I have decided to make some changes to my original plan and buy a put instead, 2 strikes OTM and enter a day early. QQQ @ $54.22 Buy QQQ Aug 2011 53.00 Put @ $0.3127 http://finance.yahoo.com/q?s=QQQ110820P00053000 Total debt $31.27 commissions included. Last day of trading August 19, 2011. Will update when I close position. --------------------------------- I put the ELITE in EliteTrader
Yes, it is a real trade. Opened 2 minutes before I posted on to ET. IB WebTrader Screen Shot - Times in PST, add 3 hours for EST --------------------------------- I put the ELITE in EliteTrader
Good I encourage everyone to post their real trades and its reasoning here. Thats what the forum is all about.
With QQQ at 53.51, volatility of 30.81% and 4 days left there is a 37.23% change of QQQ expiring at 53.00 or less. What is your reasoning with this trade? I think volatility will go down (bad for you value of the put) also.
UPDATE - POSITION CLOSED Sold the QQQ Aug 2011 53.00 Put @ $0.41 http://finance.yahoo.com/q?s=QQQ110820P00053000 P/L $8.45 / + 27% commissions included. --------------------------------- I put the ELITE in EliteTrader
QQQ Trade #4. I just opened the following trade a few minutes before market closed. QQQ 53P / 54C strangle - Live trade in progress. QQQ @ $53.58 Buy QQQ Aug 2011 53.00 Put @ $0.2514 http://finance.yahoo.com/q?s=QQQ110820P00053000 Buy QQQ Aug 2011 54.00 Call @ $0.2602 http://finance.yahoo.com/q?s=QQQ110820C00054000 Total debt $51.16 commissions included. Last day of trading August 19, 2011. Will update when I close position. --------------------------------- I put the ELITE in EliteTrader