Hello Investors,
Today we discussed the personality traits most needed for trading long options or long straddle (long vol) types of trades. And why many traders are unable to do so successfully. In addition, we took profits in our QQQ put butterfly and will continue to hold the SPY put butterfly a little longer.
Sell to close: QQQ March 21st (monthly) 510.00 strike put (ratio of 1)
Buy to close: QQQ March 21st (monthly) 475.00 strike put (ratio of 2)
Sell to close: QQQ March 21st (monthly) 440.00 strike put (ratio of 1)
Credit: 6.46
Locks-in a profit of +2.16 or +$216.00 per spread
Have a great week!