QQQ did not generate another Bear Candle today to make our Call Credit Spread a 50% profit so that we could have closed it. Instead it went up by $5.00 and made a new all time high. Our position tanked to 0.6% from 25%. As said before, if it goes 30% into negative, or DELTA turns -0.30 we will roll it up and /or out. DELTA is -0.16. So even with 2 days going against our position now plus a bear candle that gave us hope, our position is still not in the negative! The market went $5.00 against us but we absorbed it. Lets see tomorrow.
Remember: Calls are not always designed to profit from uptrend. Buyers of naked Calls, yes they are. But Sellers like me take the other side of the trade and we are directional bearish, even only for a few days.
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