[Entering Put Position On Nasdaq 100 Tracking (QQQQ)]
Dear Member:
The markets are falling and I am going to enter a put position on the Nasdaq 100 Tracking Stock (QQQQ) both as a directional move and as a hedge for my portfolio in case this is the beginning of a retracement. If the direction reverses back up, I should be able to sell other puts against the position to keep the risk limited. I am placing an order to buy to open the Sept 46 puts (QQQUT) at a limit of $2.86 for the day.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying fund.
Sincerely,
Bill Kraft
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