My QQQ option trade plan this week.

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ForexForex

ES, YM, and NQ futures down 2% + as of now. On Tuesday (August 9, 2011) I plan on buying QQQ Aug12 2011 calls, 1 strike OTM. Will post when I enter trade.
 
Quote from athlonmank8:

Why are you buying calls?
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I figure that the market is over reacting to the USA credit downgrade, and I expect a bounce back. Tuesday might be too early, but I plan on entering this trade on Wednesday at the latest.
 
I have a call on GLD. That is my only bullish position. I am certainly not prepared to predict I will take a bullish position on anything like QQQ at this time.
 
UPDATE

My trading plan is still on track, the 1 strike OTM (51.00) calls are very expensive at $1.36. If I can buy the 1 strike OTM QQQ calls for $0.45 by Wednesday 3:30pm EST then I will enter this trade.
 
Quote from ForexForex:

UPDATE

My trading plan is still on track, the 1 strike OTM (51.00) calls are very expensive at $1.36. If I can buy the 1 strike OTM QQQ calls for $0.45 by Wednesday 3:30pm EST then I will enter this trade.
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why not wait until the vola goes even higher... then you can overpay even more for the calls.

let us know how that works out.
 
Quote from iceman1:

why not wait until the vola goes even higher... then you can overpay even more for the calls.

let us know how that works out.
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Why don't you let us now how that works out? It's your idea.
 
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