Beginner’s Luck

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I mentioned a couple of times earlier this week that I had done something which I hadn’t done for years – – bought an options position. Specifically, I bought a big slug of $143 QQQ puts, expiring July 21st. Well, I just sold ’em, and it worked out nicely (I did this screen grab a little earlier; I actually got out at $3.00, higher than shown here).

0609-options

I know most of you are fancy-pants options traders that do sophisticated positions, but I’m just a dumb old bear.

Oh, and one other tip – – now that I’m out, I can assure you that the NASDAQ is going to completely crash sometime between now and July 21st. God has a riotous sense of humor.

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