After swearing off options and getting my ass handed to me on multiple occasions, I am back in the ring with them again. Am I really this stupid? Yep. The tide has to turn eventually, right?
With the big run-up in the NASDAQ since mid-July, in addition to the talking heads on CNBC ALL now saying we are going higher from here, I have decided to go short. I bought some puts on QQQQ over the past couple of days...The Oct 40's to be exact...I am averaged into them at about 2.07 per contract. I figure if we can get a pullback to 36 on QQQQ I should be able to make a nice, quick profit and put that money back in long. Plus, there is a gap around 36 in the chart on July 14/15 and I am a big believer of gap-filling on both the upside and downside. All I can do is lose money, right? I really am stupid...
2 comments:
Sure hope that money comes out of your piggy bank and not mine :) ...unless, of course, it returns - in that case - what's yours is mine & what's mine is yours!!
Hope you took your profit... looking at 1.68 right now, brah.
go long regional banks, dude, and far out as well.
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