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Double Calendar in QQQ

Home › Forums › Income Trades › Double Calendar in QQQ

  • This topic has 2 replies, 1 voice, and was last updated 8 years, 9 months ago by Steven Place.
Viewing 3 posts - 1 through 3 (of 3 total)
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  • April 16, 2014 at 8:52 am #2179
    Steven Place
    Keymaster

    First, read this.

    The premium in the near term nasdaq options is way too high.

    And it really tapers off after the next few weeks.

    So here’s the trade:

    Buy to Open May1/May 87 Call calendar for 0.34

    Buy to Open May1/May 84 Put calendar for 0.38

    There is a 2% point difference between front month and back month.

    qqq

    We’re looking for 20% return on our risk. If the market sells to 82.50 or 88.50 we will roll the losing calendar up.

    April 24, 2014 at 1:39 pm #2181
    Steven Place
    Keymaster

    We’re going to add some upside exposure. This will cut our short delta down significantly as well as increase our theta gains.

    Buy May1/May 89 Call butterfly calendar @0.40

    qqq

    April 29, 2014 at 2:21 pm #2180
    Steven Place
    Keymaster

    With the chop the nasdaq has been experiencing, we’ve hit our profit target of 20% on capital.

    The short options have 3 days left to expiration, so you ccan try and milk it more here or just close out and ring the register.

    qqq

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