[Creating Spread against QQQQ Puts]
Dear Member:
The Q's continue to climb and I am long the Sept 44 puts (QQQUR). Instead of selling them for a loss, I am going to create a diagonalized calendar spread by selling the May 45 puts (QQQQS)which, if filled will create a bullish put spread and bring in some income as well as reduce risk in the long position. My order is to sell to open the May 45 puts (QQQQS) at a limit of $0.39.
DISCLOSURE: At the time of publication, I own the Sept 44 puts on QQQQ.
Sincerely,
Bill Kraft
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