[Closing Call Leg of QQQQ Strangle/Selling to Close Mar 38 Calls (QQQCL)/Day Order/Limit $4.40]
Dear Member,
The "Q's" are showing some signs of stalling so I am placing an order to sell my Mar 38 calls (QQQCL) that form a part of a strangle where I own the Mar 38 calls amd the Mar 39 puts (QQQOM). The order is to sell the Mar 38 calls (QQQCL) at a limit of $4.40 for the day. If filled, this will result in an overall profit in the whole strangle trade and I will still own the Mar 39 puts at no cost. If the stock then drops a bit as I suspect it might, I will simply add to an already profitable position when I sell the puts. If filled, my order today will assure a bit more than a 5% profit overall.
DISCLOSURE: At the time of publication, I own the Mar 38 calls and the Mar 39 puts on QQQQ.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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