Friday, January 16, 2009

QID

I sold a call spread today on the QID.
Feb09 50/47 Put @ $0.71
It has not closed below 51 in last 3 months. Yesterday was a higher high. Today was an up day on the QQQQ so the QID was down. This is a 3 day weekend for the market with MLK day so 3 day's time decay.

I expect the QQQQ to be up for the next week with the Inauguration then come back down.

Exit:
Buy back @ $0.31

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