[Creating Spread Against Sept Put Position on QQQQ]
Dear Member:
I already have a position in the Sept 44 puts (QQQUR) on QQQQ. As the "Q's" bounced up today, I am going to create a spread by placing an order to sell to open the July 46 puts (QQQST) at a limit of $0.73. If filled, this will bring in some income and reduce risk in the long leg as well.
DISCLOSURE: At the time of publication, I own the Sept 44 puts on QQQQ.
Sincerely,
Bill Kraft
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