Adding to the QQQ $88 Call / Hedge Position

Yesterday just before the close I tried to fill out the QQQ call / hedge position that was originally opened earlier this week with an IWM call position as well, they were both 1/3rd the size of a normal options position (position sizing) as they were only intended to hedge gains in the puts, many I closed this morning, I'll address that specifically in a bit so there's no confusion as my outlook hasn't changed much. As the week wore on I added a bit more to the hedge / call positions, yesterday I intended to bring the QQQ March $88 call to full size, but didn't get the position off in time.

I'm going to fill out that position, but as I normally do, I'm going to use about 2-3x more expiration time than I think I need which has served me well as I'll show you for our Options Tracking Portfolio Rank and Returns which is not at all the same as a trading portfolio as I'm tracking every idea put out and I'd never take so many trades at once because of over-diversification, still it's doing well.

Instead of filling out the QQQ call position (March $88) with next week's expiration which I'm okay with for the type of position it is, I'm going to allocate the resources that would be used to bring that to a full size position to April Monthly expiration instead so there will be March and April QQQ $88 calls, but as far as position sizing, the two combined will be the size of a single position.

I have considered doing the same with the IWM calls, but I'm not seeing the same strength in 3C signals there, if I do later then I may add to the IWM position. Keep in mind that even with adding to these positions the options tracking portfolio is still net short by quite a large margin, so these calls are acting more as hedges than outright longs or you might call them "Hitch-hiking positions".

I'll get QQQ charts up next, I have a lot of charts to get up, but right now it's more important for me to be tracking the market and making any adjustments based on new information coming in, but I will get a full QQQ update out as well as the positions closed earlier (P&L as well as charts).