QQQ weekly OTM option trades - 4th and final week
This is the 4th and final thread of my four week series on trading the QQQ weekly options posted LIVE on EliteTrader. For Trade #5 my plan is to once again enter a trade just before the market closes. I'm leaning toward a long call or put - 1 strike OTM, but will consider a strangle depending on the market. One strategy I would like to try is to "double-up" on a loser the next day and buy an additional option to lower the average cost and close the entire position the following day at a loss or profit.
Trade #5 will be posted on Tuesday, Wednesday or Thursday, and I will update once the trade has been opened. On August 27 I will summarize the past four weeks.
Completed August 2011 QQQ Weekly Option Trades:
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I put the ELITE in EliteTrader
This is the 4th and final thread of my four week series on trading the QQQ weekly options posted LIVE on EliteTrader. For Trade #5 my plan is to once again enter a trade just before the market closes. I'm leaning toward a long call or put - 1 strike OTM, but will consider a strangle depending on the market. One strategy I would like to try is to "double-up" on a loser the next day and buy an additional option to lower the average cost and close the entire position the following day at a loss or profit.
Trade #5 will be posted on Tuesday, Wednesday or Thursday, and I will update once the trade has been opened. On August 27 I will summarize the past four weeks.
Completed August 2011 QQQ Weekly Option Trades:
- Trade #1: Aug01-05 Buy QQQ 56P/57C strangle +15% QQQ options VERY expensive
- Trade #2: Aug08-12 Buy QQQ 52C +56% My QQQ option trade plan this week.
- Trade #3: Aug15-19 Buy QQQ 53P +27% QQQ OTM Call option trade - August 15-19
- Trade #4: Aug15-19 Buy QQQ 53P/54C strangle +173% QQQ OTM Call option trade - August 15-19
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I put the ELITE in EliteTrader
