This is the first time I am posting my trading plan for the “week” and not my standard “day” plan.
I believe this morning’s pre-market bullish indications are a head fake and in my humble opinion, the markets will turn around and head south…and since I don’t know when the markets will turn, and especially when the Nasdaq will turn around, since all of my positions follow the Nasdaq’s direction, I will therefore unload my positions in small batches all through the day to get the best average prices for my options…
And as I stated in my posts yesterday, at the same time, I will start buying puts in QQQ, and also in small batches…1 and 2 contracts at a time to get the best average price…which QQQ contract? As of right now, I am not sure, because I want to see how far up the Nasdaq 100 will go…the higher it goes, the cheaper the puts become…but when I do decide, I will of course announce my plan here first…
The markets open in 7 minutes…
Best~
karim
DISCLAIMER: I am not a licensed broker or securities dealer. All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is not for the faint of heart as one’s portfolio can move up, or down 10%-50% or more during a single trading day, so trade with extreme caution. Past performance is no guarantee of future results.
Full Disclosure: I own options in the stocks of companies mentioned in my posts.