This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Nasdaq ETF / QQQ
Strategy: Calendar Put Spread
Trade entry date / price: 30 Mar 2022 / $370
Price at this post: $352.45
Update / Reasoning: With today's gap down, QQQ is pretty close to my price target of $350. So, per my trading plan, I'm going to take profits here. If filled at the exit order, this trade will yield about a 25% return on risk.
Trade Exit Order:
STC 1 QQQ 17Jun22 350 put
BTC 1 QQQ 22Apr22 350 put
For a min net credit of $8.80 per contract (GTC order, limit order). The mid is currently at a credit of $8.90. I have not yet been filled.
Analysis:
Max Risk: $703
Max Reward: $700 or 99% with QQQ at $350 on Apr 22nd
Profit Range: QQQ between $332.50 and $369 at market close on Apr 22nd
Estimated Commission (round trip): $2.60
Downside stop: $350
Anticipated Profit / Loss: $185 or 26% (pre commission)
