Option Investor


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QQQQ ITM Strangle AdjustmentThis is for those of you who are tracking the CPTI QQQQ ITM Strangle play in our portfolio. The market has popped up this morning and has provided us with the opportunity to buy back our short March $36 put position for $.10.

With 2 1/2 weeks remaining until expiration, it makes no sense to wait that long for $.10. We're not necessarily going to sell a new position immediately. We will keep our options open (so to speak). If the market comes back down, we can sell the March or April $37 put. It all depends on how far it retreats (if it does).

It seems that $37 has become a pretty solid support level for the QQQQs. We may move our near-term put positon up to that level to capture a little additional premium.

That's it for now. Have a great day and trade smart!


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