One Ugly Chart

Licia Leslie

Licia Leslie

Licia Leslie

 

Hi Shoppers,

 

First of all, I just thought this was sooo good I had to share it:

 

 

Now that is quick thinking on your feet.

 

The other thing I would like to share with you is the Invesco QQQ Trust (Ticker: QQQ) stock chart:

 

 

That is one ugly chart.

 

I believe QQQ could trade down to $382.50.

 

And one last thing … Are you one of my Option Shoppers yet?

 

If not, you just missed our first trade which we closed for 112% profit in two days!

 

That’s right, we bought the Verizon (Ticker: VZ) Dec. 23 51-strike calls, paid $.535 and sold them for $1.134 on average.

 

The good news is, you can still get in for our big kickoff event today at noon …

 

But the only way to get in right now is to call our Customer Care Team at 1-888-872-3301 before noon.

 

Good QQQuestion

 

I believe the QQQs are going to trade down to at least $382.50.

 

If they open lower and trade lower this morning, I will be a buyer of puts expiring today:

 

 

I would buy the Dec. 17 386-strike puts and sell the 381-strike puts, and pay right around a dollar.

 

Keep a close eye on this as it expires today.

 

Trade Review

 

On Monday, I bought the McDonalds (Ticker: MCD) Dec. 17 265/260 put spread and paid $1.70. It traded up to $2.30. I should have gotten out before the Fed announcement. MCD rallied along with the rest of the market and I took my loss at $1.22.

 

Sometimes, you are better off not having a position before a big announcement.

 

Thanks for Reading …

Licia Leslie

Licia Leslie

Licia Leslie

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About the Author

Licia Leslie

Licia Leslie

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

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