Stock / Symbol: PowerShares QQQ / QQQ;
Option Strategy: Diagonal put spread
Trade entry date / price: Aug 28 / $105.20
Price at this adjustment: $104.35
Reasoning: With the market trading down today, going to adjust the position to turn the Theta positive. After this adjustment, the Greeks will be: -35.5 Delta; 6.2 Theta; and 12.1 Vega.
Trade Adjustment Details:[private_monthly]
STO -1 QQQ SepWk1 100 put
for a min credit of $0.40 per contract (GTC, limit order). The mid is currently at $0.36.
[/private_monthly]
Max Risk: $355 (adjusted down from $415)
Max Reward: $300 at [private_monthly]$100 (at current volatility)[/private_monthly] by Sep 4th
Profit Range: under $105.40 by Sep 4th
Suggested Upside stop: $106.30
Suggested Downside stop: NA
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