Bought 10 contracts QQQ 101.00 Sept20 calls at $0.04

[FXforex]

• QQQ at $99.91
• Strong resistance at $100.00
• Bought 15 contracts QQQ 101.00 Sept20 calls at $0.04
• QQQ price target $101.50+

• Alibaba (BABA) IPO this week, will the hype boost the market?
• QQQ has been in a tight trading range since August 27, when will it break out?
• Will QQQ make a run for its all time high of $117.00?
• Is this a top for the market?
• Perhaps buying the QQQ 101.00C/99.00P Sept20 strangle at $0.30 might be better?

Questions,questions,questions, but what are the answers? Likes and timely comments from the peanut gallery are welcome.


EDIT: Typo in the title. Should be 15 contracts, not 10.

 

[Scaleout.Scalper]

Im not saying you wont make money on this trade but this is precisely part of your problem, you react late, the buy was 2-3 days ago.

 

[FXforex]

Im not saying you wont make money on this trade but this is precisely part of your problem, you react late, the buy was 2-3 days ago.

Based on hindsight you are correct, we all have 20/20 hindsight. TWTR, PCLN, TSLA are much better options to trade using hindsight, the payoff is much higher than QQQ options.

 

[Scaleout.Scalper]

Based on hindsight you are correct, we all have 20/20 hindsight. TWTR, PCLN, TSLA are much better options to trade using hindsight, the payoff is much higher than QQQ options.

Not hindsight, I made the call in your old thread to "try" to help you.

 

[FXforex]

Not hindsight, I made the call in your old thread to "try" to help you.

• What was the strike?
• What was the expiry?
• What was the ask?
• What was the bid?

Those are important details for a marketable trade.

 

[Scaleout.Scalper]

• What was the strike?
• What was the expiry?
• What was the ask?
• What was the bid?

Forget it, stay a rookie, goodbye.

 

[FXforex]

Sept 17, 2014 3:14 PM EST

• QQQ at $99.91
• Strong resistance at $100.00
• Bought 15 contracts QQQ 101.00 Sept20 calls at $0.04
• QQQ price target $101.50+

UPDATE

• QQQ at $100.28
• Position still open
• I have entered a limit order to sell at $0.50
• I need QQQ to move +1.22% for the limit order to be filled

 

[FXforex]

OPTION EXPIRY UPDATE

The Sept 20 101.00 calls have expired worthless. P/L -$60.00 (-100%)

QQQ 5-Day Chart
Red Dot: September 17, bought 15 contracts QQQ 101.00 Sept20 calls at $0.04

• Trade 1: http://www.elitetrader.com/et/index...ontracts-qqq-100-weekly-calls-at-0-07.286150/ P/L -$70.00 (-100%)
• Trade 2: http://www.elitetrader.com/et/index...-10-likes-if-this-trade-is-successful.286441/ P/L -$60.00 (-100%)
• Trade 3: This thread. P/L -$60.00 (-100%)
• Trade 4: To be announced, probably next week.

Total P/L: -$190.00 (-100%)

 

[Georgi90]

OPTION EXPIRY UPDATE

The Sept 20 101.00 calls have expired worthless. P/L -$60.00 (-100%)

QQQ 5-Day Chart
Red Dot: September 17, bought 15 contracts QQQ 101.00 Sept20 calls at $0.04

• Trade 1: http://www.elitetrader.com/et/index...ontracts-qqq-100-weekly-calls-at-0-07.286150/ P/L -$70.00 (-100%)
• Trade 2: http://www.elitetrader.com/et/index...-10-likes-if-this-trade-is-successful.286441/ P/L -$60.00 (-100%)
• Trade 3: This thread. P/L -$60.00 (-100%)
• Trade 4: To be announced, probably next week.

Total P/L: -$190.00 (-100%)

These smileys gave me cancer.

 

[KINGOFSHORTS]

This is what happens when you let greed take over. Think about it you went long at 4 cents you could have closed your position for a profit, but you were waiting for top dollar.