Date: 4/28/23 1:00pm
Underlying: Invesco QQQ Trust ETF
Est. Net Credit: $9000
Master Portfolio Contracts: 10
We will be jumping back into QQQ trades. We have actually found that the QQQ has been more stable than the XBI recently and so will be good for core trades.
For those of you that are also in pro, you do not have to double up if you do want to but we are going with more contracts in 5K.
We will start with a single put calendar two weeks out on the short puts, then manage it depending on what the market does. This has worked well for us over the last several months. In fact, QQQ may be trading more stable than SPY.
This will cost about $9000, require no margin, and we will be trading 10 contracts. The QQQ puts are trading about $3 cheaper than the call calendar.
BTO 21 JUL 320 put
STO 12 MAY 320 put
Price: 6.62 debit
Margin Required: $9000