Opened (Small Account): QQQ October 22nd 350/355 SPV* Long

Invesco QQQ Trust, Series 1NASDAQ

Description

⋅ Sep 8, 2021 9:59 PM

Selling premium in the QQQ's in the expiry nearest 45 days and looking to collect at least 10% of the width of the spread in credit.

Collected .57 in credit here and will look to take profit at 50% max. 12.9% ROC at max as a function of buying power effect; 6.4% ROC at 50% max.

* -- Short Put Vertical.

Comments

TradingCrazyInsane

⋅ Sep 9, 2021 3:32 PM

What’s the benefit of this over long calls

NaughtyPines

⋅ Sep 9, 2021 10:22 PM

@TradingCrazyInsane, A long call will only profit in an up market, but would have theoretically infinite profit. This will profit in an up, sideways, or even a somewhat down market (although not so far down as to breach the setup break even), but has a capped max profit. As always, there are tradeoffs.