QQQ Update - Close Position

Jul 9, 2019 Andrew Gonci Archived

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The market is setting up to swing higher so we are opting to close our current QQQ Options Trade.
Overview:
The market is setting up to swing higher so we are opting to close our current QQQ Options Trade.
Buy To Close QQQ  12th July Call @ 2.05 plus or minus
Premium collected $221  Minus close $205 is pretty much break even with the trade.  Better to cut quickly than get caught in a rally and end up taking pain when there is no need to.  
QQQ
The bullish pinbar followed by a strong green candle is implying the market is attempting to push higher so we are going to close our position and look to open a new position with NVDA. The market is supportive of a bullish move and NVDA should benefit from a move higher.  We will follow it up with a separate email IF and When we take the trade.