Stock / Symbol: PowerShares QQQ / QQQ;
Option Strategy: Long Put
Price at this post: $105.20
Reasoning: Putting on a long put to bring the delta of our open positions closer to neutral.
Trade Details:[private_monthly]
BTO 1 QQQ Oct15 105 put
for a max debit of $4.15 per contract (day order, limit order). The mid is currently at $4.04. I was filled at $3.95
[/private_monthly]
Max Risk: $415
Max Reward: unlimited at/under [private_monthly]$100.85 (at current volatility)[/private_monthly] by Oct 16th
Profit Range: under $100.85 by Oct 16th
Suggested Upside stop: NA
Suggested Downside stop: NA
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