SO LOOKS LIKE QQQ WILL OPEN JUST ABOUT DEAD CENTER OF THE FRIDAY RANGE (273.44-279.76).
SO THE QUESTION FOR US NOW IS WILL THE QQQ'S BREAK OUT OF FRIDAY'S RANGE?
THE KEY WILL BE WHICH WAY DOES THE QQQ'S GO AFTER FIRST 30 MINUTES OF TRADING.
WE ARE GOING TO BUY OCT 9TH 280 CALLS AS THE MARKET TRIES TO MOVE DOWN FROM THE OPEN. WE WILL BUY 1/4 POSITION ON THE FIRST LOW ESTABLISHED, AND IF MARKET KEEPS MOVING LOWER WE WILL ADDING A 1/4 POSITION.
SO THE QUESTION FOR US NOW IS WILL THE QQQ'S BREAK OUT OF FRIDAY'S RANGE?
THE KEY WILL BE WHICH WAY DOES THE QQQ'S GO AFTER FIRST 30 MINUTES OF TRADING.
WE ARE GOING TO BUY OCT 9TH 280 CALLS AS THE MARKET TRIES TO MOVE DOWN FROM THE OPEN. WE WILL BUY 1/4 POSITION ON THE FIRST LOW ESTABLISHED, AND IF MARKET KEEPS MOVING LOWER WE WILL ADDING A 1/4 POSITION.
Trade active:
GOOD NEWS IS OUR 280 CALLS ARE OVER 50% ROI RIGHT NOW...UNFORTUNATELY WE UNDERESTIMATED HOW QUICKLY THE QQQ'S POPPED AT THE OPEN AND WE ONLY ENTERED A 1/4 POSITION. WE WILL NOW WAIT FOR SOME BACK FILLING THRU THE NEXT COUPLE HOURS, AND LOOK FOR A GOOD LOW TO ADD TO OUR 280 CALL POSITION.
Trade active:
WE ADDED TO OUR 280 CALL TRADE AT $2.30. WE NOW HAVE AN AVG PRICE OF $2.17
WE EXPECT A MINIMUM OF 50% ROI ON THIS TRADE, AND WE EXPECT A TEST OF FRIDAY'S HIGH 279.76
WE EXPECT A MINIMUM OF 50% ROI ON THIS TRADE, AND WE EXPECT A TEST OF FRIDAY'S HIGH 279.76
Trade active:
280 CALLS HIT $3.45 PUTTING OUR TRADE AT 59% ROI. UNLESS THE QQQ'S GO STRAIGHT UP INTO THE CLOSE WE PLAN TO HOLD TRADE OVERNIGHT.