Replies to post #6071 on DayTrading QQQ Swings (QQQ)

[spdpro]

http://www.theoptionsguide.com/iron-condor.aspx

[blasher]

FILLED IN . . . ...

I Sold Short 'X/4' more Jul-$37 Calls at 10.

This brings my total Short Jul-$37 Calls to 1/2 of
my Long Jul-$38 Calls and collected an average Premium of 11.

If I do nothing else and QQQQ Closes this OE in 2-weeks at less than 37,
I keep all of the $11 per Jul-$37 contract Sold Short
and lose all of the $4 per Jul-$38 contract Bought Long.
Since I have 2x Longs for extra safety, this would give me
making $11 for every $8 spent = 30% Profits AFTER Commissions.

If QQQQ continues to fall away from 37, I can have the confidence
to Sell some of my Long Jul-$38 Calls before expiration
for a little more Profit.

Nice, safe, easy . . . I like this.