[Tightening stop on QQQQ puts/Stop to sell Sept 40 puts (QQQUN) now contingent on stock going above $38.74]
Dear Member,
In my opinion, QQQQ has established a short term resistance at $38.62. I am, therefore, moving my stop down so that my Sept 40 puts (QQQUN) will be sold contingent on the stock going above $38.74. This order allows for a little elasticity above the current resistance and should reasonably assure a profit in the position unless the Q's gap up.
DISCLOSURE: At the time of publication, I am long the Sept 40 puts on QQQQ.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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