Hello Traders,
This trade didn’t go as expected. The “skew” in volatility was such that we took a big hit on volatility as the VIX declined. We feel that taking a smaller loss is the right approach and we will find a better structure for our future outlook. This will be discussed tomorrow.
Sold to close: QQQ June 19th (monthly) 181.00 strike calls
Bought to close: QQQ April 17th (monthly) 181.00 strike calls
Limit credit: 5.80
The result is a loss of -0.70 or $70.00 per spread traded.
See you tomorrow at 10:00 a.m. ET for our Trading Mentors program!