Tuesday, April 2, 2013

QQQ $68 weekly call P/L

Here's the P/L on yesterday's position opening weekly QQQ $68 Calls (expiration 4/12)



At a cost of $1.01 and a fill of $1.40, yesterday's QQQ position brought in almost +39%. I closed half the position because of momentum and held half because I think there's some more to go. Either way, 38+% for a day isn't too shabby.


 QQQ 1 min from yesterday, this morning there's an intraday negative divergence.

 Since it was on the 2 min chart as well that made the probabilities of a pullback and loss of momentum higher, in fact momentum has started to fall off.

The 15 min chart is still moving toward confirmation so I have no problem leaving part of the position open after having taken some initial profits.

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