[Creating Spread against Puts on QQQQ]
Dear Member:
As the Nasdaq 100 continue to rise, I am going to sell another put position to create a spread against my Sept 44 puts on QQQQ. I am placing an order to sell to open the Aug 49 puts (QQQTW) on QQQQ for a credit before commissions of $0.49. If filled, this will further reduce my risk in the long leg and bring in more income. The position is covered since I own the Sept 44 puts.
DISCLOSURE: At the time of publication, I am long the Sept 44 puts on QQQQ.
Sincerely,
Bill Kraft
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