Today is Thanksgiving and the U.S. markets are closed. Since I didn't have the time last night to post the results of my last trade, I am doing it now. Yesterday, I entered into a 5 contract position of the QQQQ 20110122 $53 call options. This was done as a contingent order that if the underlying QQQQ shares priced above $52.86 that I would BTO a position of 5 call options at a limit of $1.49 per contract share. It triggered and my position was BTO at $1.46.
The value continued to climb to $1.60 early in the day and held that level through-out the afternoon with a top of $1.63. With my non-professional analysis of the technical indicators, I became uncertain of this stalled gain continuing higher past Thanksgiving. So I decided to make a day traders move and cash out before the close at the bid of $1.59. This resulted in this trade profiting just over 6.5%. Again, better than bank interest. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
BTO - buy-to-open / bought-to-open
QQQQ - Powershares QQQ Trust ETF
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