[Buying Puts on QQQQ/Buying Dec 40 Puts (QQQXN)/Day Order/Limit 1.45]
Dear Member:
With the Nasdaq dropping pretty drastically today, I want to put a bit of a hedge in place so I am placing an order to buy the Dec 40 puts (QQQXN) on QQQQ at a limit of $1.45. If the market continues to drop, this position could gain and potentially help offset losses in existing bullish position. The risk is limited to the cost of the puts.
DISCLOSURE: At the time of publication, I have no position in QQQQ.
Sincerely,
Bill Kraft
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