The trade on the QQQs initially described here had been opened for a 0.33 credit and was closed minutes ago for a 0.10 debit, yielding a nice 0.23 profit and in views that the market doesn't seem to want to go down.
The closing trade was as follows:
Buy to Close 12 QQQ Nov 61 Call @0.11 (Initially Sold @0.41)
Sell to Close 12 QQQ Nov 63 Call @0.01 (Initially Bought @0.08)
A 0.23 profit in 12 spreads means $276. That is 0.23 * 100 * 12 = $276.
I decided to lock in this profit in fears of another market rally. So, by now, only one more trade remains open: a Credit Put Spread in SPX well below the market. The SPX would have to go down 140 points in order for this position to be a loser. And that represents more than a 10% fall. I think chances are high that won't happen in just a week. So, I will let this trade expire worthless next Friday 18, for the full $400 credit locked in as profit.
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