Hello Investors,
We rolled out and rolled down the short puts in QQQ. This will skew the trade more bearish overall into next Friday (monthly) options expiration. The details are as follows:
Buy to close: QQQ Nov 13th (weekly) 285.00 strike puts
Sell to open: QQQ Nov 20th (monthly) 275.00 strike puts
Limit credit: 0.35
This takes our cost basis down slightly (by 0.35 per contract). It moves our price target down to 275/share for next Friday.
We also bought a put butterfly in Apple (AAPL) as follows:
Buy to open: AAPL Jan 15th (monthly) 115.00 strike puts (ratio of 1)
Sell to open: AAPL Jan 15th (monthly) 100.00 strike puts (ratio of 2)
Buy to open: AAPL Jan 15th (monthly) 85.00 strike puts (ratio of 1)
Limit debit: 2.58
In addition, we want to attempt to buy into a put butterfly today in Salesforce (CRM) . However, this is a limit order as the bid/ask spreads are a little wide even though it is a highly liquid stock. This is a day order only and may not get filled. But if we can hit our limit price today then it is worth a shot. This order has NOT been filled and very well may not today.
Buy to open: CRM Jan 15th (monthly) 240.00 strike puts (ratio of 1)
Sell to open: CRM Jan 15th (monthly) 210.00 strike puts (ratio of 2)
Buy to open: CRM Jan 15th (monthly) 180.00 strike puts (ratio of 1)
Limit debit: 4.00
Day order only, if it doesn’t fill today then cancel the idea.
Happy Trading!