Market still getting insane on its way up. Very low volume though. Just sold the Nov 61 Call and Bought the Nov 63 Call on the QQQs. Everything for a 0.33 credit. 12 contracts per leg, maximum risk $2040. Potential reward $396. QQQ would need to go up to 61.33 in order for the position to start losing money at expiration.
Sell 12 QQQ Nov 61 Call @0.41
Buy 12 QQQ Nov 63 Call @0.08
Days to expiration: 25
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Sell 12 QQQ Nov 61 Call @0.41
Buy 12 QQQ Nov 63 Call @0.08
As a result a 0.33 credit was obtained per vertical, meaning a total of 0.33 * 12 * 100 = $396 dollars of credit. The maximum loss in this play is $2004 if the market skyrockets before November 19 and QQQ is up beyond 61.33.
Probability of success: 73.76%.Days to expiration: 25
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