QQQ Options Remaining

Honestly I'd probably have taken all of the QQQ position off the table if I wasn't getting my rear end soundly handed to me by other members in the same trades with more patience or perhaps grater tolerance for option related risk, there's one Canadian in particular, "S-M", who is quite good at extracting solid gains from the exact same options trades at the same time.

In any case, whether I decide to hold the rest much longer or close them out will largely depend on what happens with this AAPL chart in the next 30-60 minutes.

 There's a 2 min positive, this could save the Q's for a bit longer today, they need something to keep them going, so if this divergence really takes off, I'd be more inclined to hold the Q's a bit longer.

Here's a good lesson for you about how many options traders see their contracts expire worthless. I think we've only had a couple of options trades this week, no triple digit gains, but the options model portfolio is currently ranked # 18 of nearly 1100 portfolios for the week. Considering we've had some decent trades there, but nothing like  triple-begger or 3 digit gain, that should tell you something, not about my skill as an options trader, but as to the skill of the majority of traders. If we had a 100% return on the week that would be different, but at just over 20% on the week, that should tell you something about the derivative product known as options and how dangerous they can be.