QQQQ by Joab

Quote from bluud:

Are you still short QQQQ .... I am ... AH currently 45.89
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Nice...

Yes I still have the Bear Call Spreads open and we are back below the 46 Sell.

This is a breakeven trade for me at best now but I think we will get back into the $45 - $42 range soon.
 
Quote from stock_trad3r:

maybe now is the best time to cut losses

or atleast take 1/2 off

Good luck
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I'm only in the Bear Call credit spread trade now 46-48 and it's doing fine. :)
 
Quote from Joab:

I'm only in the Bear Call credit spread trade now 46-48 and it's doing fine. :)
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I don't think he knows what is a Bear Call Spread.
 
Credit spreads are neat-o aren't they? Do you ever use debit spreads?

I ask because it seems like QQQQ options have been a little too cheap lately to be worth selling.
 
Quote from Joab:

Nice...

Yes I still have the Bear Call Spreads open and we are back below the 46 Sell.

This is a breakeven trade for me at best now but I think we will get back into the $45 - $42 range soon.
More...

I had placed a buy @46.72 ... and it did buy ... I still have more to buy back ... though Im not so sure if it will go as low as 42$ ... but there is a greater chance to see it at 45$ by end of week
 
Quote from stevegee58:

Credit spreads are neat-o aren't they? Do you ever use debit spreads?

I ask because it seems like QQQQ options have been a little too cheap lately to be worth selling.
More...

No,

I've made a great income for over 15 years selling credit spreads and I'm a big believer in them as the best options strategy going (I know many seasoned options traders will disagree) but I understand the trade very well and thats what matters most to me.

I highly encourage others to specialize in Bear Call Spreads and Bull Put Spreads as a viable and reliable source of regular income.

If you do them right there's no reason one can't average 3-6% monthly returns.

The trick is to never lose more on the trade then you stand to gain with the credit.

Few people do this and most just think of the trade as set it forget it and that's just silly.
 
what entry strategy do you use?

I use a 2 std dev on 50 sma. It should come out to around 10 delta. And then I match it to MACD & Stoch turning points.
 
Quote from Tums:

what entry strategy do you use?

I use a 2 std dev on 50 sma. It should come out to around 10 delta. And then I match it to MACD & Stoch turning points.
More...

Tums

My preferred entry strategy is to enter off cumulative support levels on strong trending stocks in pullbacks BUT that being said I will also pick potential tops/bottoms were I think volatility levels are high and need to burn off.

I like to combine the spread with an outright short / long for a double whammy.

See http://www.elitetrader.com/vb/showthread.php?s=&threadid=93407
 
Closed

46 - 48 Bear Call Spread

I made .50 on it :)

Net loss since I started this post = .30

Better then a stick in the eye ... !
 
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