Stock / Symbol: PowerShares QQQ / QQQ;
Option Strategy: Vertical Put Spread
Price at this post: $95.72
Reasoning: With stops being hit on most of our positions, I'm putting on this Vertical Put Spread on QQQ to help reduce our overall downside risk and help to bring the overall delta from 50 to 17. Should QQQ trade back up to 98.50, we'll look to close this position (and possibly all our other positions) out.
Trade Details:[private_monthly]
BTO 1 QQQ Feb16 96 put
STO 1 QQQ Feb16 91 put
for a max debit of $1.55 per contract (day order, limit order). The mid is currently at $1.44. I was filled at $1.44
[/private_monthly]
Max Risk: $155
Max Reward: $345 at/under [private_monthly]$91[/private_monthly] by Feb 19th
Profit Range: under $94.50 by Feb 19th
Suggested Upside stop: $98.50
Suggested Downside stop: NA
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