QQQ Puts follow Up

I decided to take the gains for the QQQ 8/21 puts for a few reasons, 1 the bounce looking more probable. The TLT charts and the reversal in yields that would come with a downturn in TLT, offering the market support is another reason. I checked 30 year Treasury futures and was being the same signals as what I posted earlier in the TLT-Yields post.

As for the QQQ P/L, remember this was a position added to on 7/20, TRADE IDEA: Adding to QQQ 8/21 $112 PUTS when the market looked like this...

In other words, the add-to QQQ Put position was the high of the bounce and not entered as a contrarian trade just for the sake of being contrary, there were signals that were objective such as...

The bounce cycle from 7/10 with the QQQ put add-to on 7/20.

The position filled at a nearly 28% gain and in all honesty, I'd like to hold it longer, but options are different than equities in a number of ways and I prefer to have a lot more time than I think I'll need so moving forward, a new QQQ put position would likely be even further out than the 8/21 expiration. Plus the overnight AMZN gains were erased, I'm not sure that will hold very near term, so there's no downside in taking the gains, I can either add to at a better near term position or I've booked the gains and still have plenty of short market exposure.