Quote:
Originally Posted by bubur
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well gentlemen, are we goin 100% cash at open tomorrow?
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In my RH account this week:
I exitted the 325/322 put credit spreads (6) on QQQ expiring tomorrow that I sold early Monday morning saying this week would not lose more than 0.5% (believing the nasdaq has reached the bottom of this past 3 months' pullback).
I sold them for 105$ each at a exit price of 40$ each effectively netting 65$ x 6 (390$) against the 1170$ I risked: a 33% gain.
I'm still in all of my Put credit spreads with a January 2023 expiration (wpm 45/35, dfen 20/19, et 10/7, and et 15/7) as I have no intention of exitting them at all since they are double-ups and triple-ups and quadruple-ups coming in at the long term capital gains rate if I hold them till at least may of 2022.
Basically, I take a portion of my wins from short-term wins and parlay them into even bigger long-term wins.