Vlispxpert's Underground

[otterman]

VL,can you help me out here for a minute. Im trying to learn options. First of all, no pressure, Im NOT going to make this trade just want to know if Im doing it right, and using this QQQ just as an example.

Looking at QQQ, Investco QQQ Trust, Nov 18, 2022 PUTS $140 as I think this will be down lots before then. Currently $289.22. Exit strategy - sell before then. Here's where I get confused:

Do I buy PUTS for that day, or sell PUTS for that day?

My thinking is that I BUY them, and then sell them when I want out.

Also, if Id let them expire, would I make a profit? Id say NO.

Is my thinking right, or am I completely out to lunch?

Tks