The market traded slightly up today ; starting the morning with a small down move.
Current portfolio snap shot:
Note the Theta on the QQQ position this is because the options I sold expire in 15 days. All other positions expire 43 days.
Lets review my QQQ position..
I sold the $133 call and bought the $134 call. I collected $30 and used $70 in buying power, setting a ceiling price at $133.30. If the stock stays below that break even price until expiration then they would expire worthless and I would make $30 profit and the $70 buying power would be released back into my account as usable. Plan on closing this out at 50% max potential profit of $15.
The break even is the strike price of the option I sold, $133 plus the credit I received $30.
This trade was initiated on March 14th, 23 days ago.
Risk Graph for QQQ’s
You can see the max profit of $30 and max loss of $70 – the white dot is the current price and the blue vertical lines represent 1 and 2 stand deviation moves.