QQQ OTM Call option trade - August 15-19

Make sure you think it's going to move a fair amount. Opt premiums are quite high.

 

I entered an identical trade two weeks ago at $62.44, opened on a Wednesday and closed it out for small 15% gain the next day just one day before expiry.

http://www.elitetrader.com/vb/showthread.php?s=&postid=3257144#post3257144
PS .... there is a typo in the trade from two weeks ago. July should read Aug, it's corrected in the next post.

 

Yes, the night out at Red Lobster hangs in the balance.

 

Now that's funny right there.

 

UPDATE - POSITION CLOSED

• Sold the QQQ Aug 2011 53.00 Put @ $1.39 http://finance.yahoo.com/q?s=QQQ110820P00053000
• Sold the QQQ Aug 2011 54.00 Call @ $0.03 http://finance.yahoo.com/q?s=QQQ110820C00054000
• P/L $88.50 / + 173% commissions included.

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I put the ELITE in EliteTrader

 

Nice, job

 

http://www.mccormickandschmicks.com/