fbpx
‪(720) 819-5927‬ support@25koptionschallenge.com

MAR 2021: QQQ $310 – $315Bull Call Spread

Stock

QQQ

Trade Structure

$310- $315 Call Spread

Trade Date

3/4/2021

Price Paid

$250

Expiration Days

04/16/2021

THIS IS A DELAYED TRADE FOR EDUCATIONAL PURPOSES ONLY.

To participate in our live challenge and to access our online training, please click “Your Account” and upgrade to the “Live Trader” plan.

 

Trade Rationale

QQQ is very hard to fill. As you can see below I had been trying for a $310-$315 spread since 2/23 and although QQQ had flirted with $310 levels, I never got filled. Finally, when it dropped down to $307 is when I got filled for a $310-$315 spread. I can only attribute it to a spike in IV. QQQ has very solid support at $310, but it did get pulled back all the way $296 before bouncing back up slightly. I am guessing some of our members were lucky to get $300-$305 spreads too.

Trade Selection Criteria

Overall market movement

Nasdaq was in deep correction, giving us great opportunities to enter a trade

No Earnings or Significant News

N/A – This is an ETF 

Bollinger Bands outside Keltner Channels

Bollinger bands are clearly outside the Keltner Channels.

RSI Analysis

Trade was taken based on support/resistance levels
N/A

ADX Analysis

Trade was taken based on support/resistance levels
N/A

Trade Analysis

QQQ went all the way down to a little below $300 before recovering from the brutal correction we experienced last month. During these times, you just need to stick to your plan even though it may feel like every trade you put on becomes a loser instantly. QQQ played out beautifully yielding us our 94% profit target.

Trade Outcome

WINNER

Profit/Loss

$235

Beginning Account Balance

$13,500

Ending Account Balance

$10,900

To follow along the strategies we use in the $25K challenge, we recommend that you get the strategy book which explains the whys and wherefores of our method. Get it here=> https://amzn.to/2MUOCE5

Submit a Comment

Your email address will not be published.

Free no-obligation 7-day trial The Bull Run is just getting started...

The massive 5 month long correction is behind us and the Bull run is just getting started. Are you ready to take advantage of it?