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Friday, December 26, 2014

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Light Trading Day for #stocks sell #QQQ calls

10:24 AM    No comments
Hey everyone, I hope you are enjoying the holidays. Just wanted everyone to know that I will be returning Monday the 29th with a review on the Nasdaq for the week.
Christmas or Festivus, or Kwanza, I hope that times with you and yours were great.
Next week, we are going to be looking at some stocks and some upcoming market moves.

And right now we are going to lean into the Santa Claus Profit taking rally and sell our QQQ calls.

QQQ Feb 2015 105.000 call (QQQ150220C00105000)

 -OPR
2.50 Up 0.08(3.39%) 1:00PM EST
Prev Close:2.25
Open:2.40
Bid:2.57
Ask:2.58
Strike:105.00
Expire Date:20-Feb-15
Day's Range:2.38 - 2.52
Contract Range:N/A - N/A
Volume:1,609
Open Interest:18,07









We have a lot of liquidity here and we sell right between the bid and the ask, here we are out at 2.57. If you remember last week we got in at 2.35 and that leaves us with a nice little profit of 7%. I would expect that as the new year begins the market is going to flounder a bit, so thats why I got out now. Also in looking at the very narrow price action, its seems that the cubes are pressed up against the ceiling.

Stay Frosty and see you Monday,
Mark


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