Stock / Symbol: Nasdaq ETF / QQQ
Strategy: Bull Put Spread
Trade entry date / price: 30 Mar 2021 / $313.40
Price at this post: $323.98
Update / Reasoning: The QQQ's have move up nicely from our entry point, providing an opportunity to exit the position early with a better than 7% return in just a few days.
Trade Exit Order:
BTC 1 QQQ 09Apr21 297 put
STC 1 QQQ 09Apr21 292 put
For a max net debit of $0.10 per contract (GTC order, limit order). The mid is currently at a debit of $0.06. I was just filled at a debit of $0.08
Analysis:
Max Risk: $455
Max Reward: $45 or 9% with QQQ at/over $297 on Apr 9th
Profit Range: QQQ at/over $297 at market close on Apr 9th
Estimated Commission (round trip): $2.60
Downside Stop at: $297
Realized Profit / Loss: $37 or 8.1% (pre commission)
