[Opening Position in ProShares Ultrashort QQQ ETF (QID)]
Dear Member:
It is October and the indices appear to be showing some weakness. I am going to enter a position that will profit on a downside move of the Q's and thus put a hedge in place. I am placing an order to buy the ProShares Ultrashort QQQ ETF (QID) at a limit of $36.90. If the Q's turn back up (and therefore QID down), I plan to exit the QID position if the ETF drops to $39.35.
DISCLOSURE: At the time of publication, I have no position in QID. I do have various option positions in QQQQ.
Sincerely,
Bill Kraft
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