Walter, If price approches 36, I will probably take profit. Using a trailing stop for now. If price makes a new high, that will probably set up bearish osccillator divergance, making a trade to the downside next week a possibility.
Sold QQQ Dec. 32 calls at 3.40. The VIX touched support and reversed. Now is no time to be long the market. I don't think there is much upside left on this current up swing. My cycles show a high on Nov. 29, (or thereabouts). Then a low around Dec.5. Looking to trade a downmove next week. On my 2 trades this month, my account is up 11%.
Is there a minimum for buying options on QQQ ? Are there increments of 100 or what ? I used to sell Bond options( futures ) and I could trade any number of options . Thanks, Walter
Bought NTAP Dec. 25 puts at 2.45. Looking for price to roll over on the daily chart. Potential target is 21.00 on the stock. Expecting a broad market decline this week, with a short term cycle low around Dec. 5. It may not move very much, so lets see what happens. Vix again bounced off support just above 16.00
Just wanted to drop in and say nice trading. Nice prediction on NTAP & overall mkt direction...looks like NTAP hit your target of 21 and then some. Good trading.