QQQ Bear Diagonal Put Spread Sept 368/Aug 27 356
Hedged put position just took ten spreads on Friday 13th for net debit $7. NOT recommended for fainthearted, Big risk/big reward (maybe).
There is support at former resistance ~342 - 345, targeting. Index is overbought and struggling to break above 370. GLTA!
There is support at former resistance ~342 - 345, targeting. Index is overbought and struggling to break above 370. GLTA!
Trade active:
Closed position on gap deep ITM; re-entered late trade.
Trade active:
Closed again on gap. NB: NOT SO BEARISH DAY 2!? Watch out IMO
Trade active:
Did not post separate chart for this trade but on weakness I shorted SEP 350/330 vertical put spread for credit 1.55 and closed for 1.35 intraday. Finally made a buck from puts, lol.
Comment:
Gone into cash. Index has habitually traded back up to 368 on every dump. See if it does again. Room to sell more, might bounce, pure guesswork.
Trade active:
Re-entered in the Sep 366P spread vs Aug 27 358s, an $8 spread, ten contracts.
