QQQ Bear Call Spread Trade

Now today came the candle we were all waiting for. QQQ made a red candle and the price dropped $4.50 the share. 

We were forced to roll our position out in time yesterday and thus collected 200% of the original premium. Our original entry was lower and would have been ATM, at the money now but not ITM, in profit. So we moved it up the food chain and waited for that red candle. We are ITM, in the money now by 25%. If the price drops to 331 both position would be ITM, but our new rolled position makes more profit.

• Selling high and buying low.
• Selling high and letting it expire

I expect that QQQ will drop to somewhere in between the closing of today at 336 and the 20 day SMA, the green line. Lets say 331. My $10 target for this trade. Lets see.