Options position update QQQUJ
Today I am still holding a position in QQQUJ because I believe that the
Qs will start a sharp decline sometime this week, or early next week.
These are the september 36 puts, which right now are trading with a
spread of 0.05 by 0.10. These are the bottom of the barrel options, but
I’m holding them because they are the only ones with a potnential return
that can cover my trading costs due to low volume.
I think it could take several days of downward action to bring these
options to a profitable position for me. I’d like to see them at 0.30
by Friday. That would be excellent since my cost basis is 0.15. It is
possible that the market will kill me with inaction thoguh. If it
remains stagnant for the next week, I could be out of luck. Some people
say that volume just before labor day weekend is quite low since many of
the traders are off on vacation.