The "Bull Put Spread on the QQQs" initially described here had been opened for a 0.29 credit and was closed minutes ago for a 0.18 debit, yielding a quick 0.11 profit in 10 days in views that the Nasdaq has looked weaker than normal and with little upside movement during the recent rally in all major indexes, which are getting closer to important resistance areas. This particular position is the one that could screw the month, a.k.a the closest to be in danger.
The closing trade was as follows:
Buy to Close 12 QQQ Jan 52 Put @0.35 (Initially Sold @0.75)
Sell to Close 12 QQQ Jan 50 Put @0.17 (Initially Bought @0.46)
Net Debit 0.18
A 0.11 profit (0.29 Credit to open and 0.18 Debit to close) in 12 spreads means $132. That is 0.11 * 100 * 12 = $132.
After this, two trades remain open: The January IWM Bull Put Spread (63/65). And the The January QQQ Bear Call Spread (61/63). They both look pretty safe so, the current plan is to let them expire worthless if possible by January 21, getting all the juice and saving capital in commissions.
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