SQQQ strike June 21st, 56 call, shoot for 3.90 an option, buy at the open, 10
That position took a 50% NOSEDIVE IN ONE DAY!
Yikes! Hind sight I should have done 1/2 Friday 1/2 today, buying all position on a whim is never good.
But even with that, I am still optimistic for a market decline this week, and the weeks ahead.
The Volatility Index took a nosedive today, and what goes down usually goes up. VIX going up means market volatility which is down.
Today the headlines reminded me of back in 2008-2009, shouting at the rooftops to encourage stock owners that all is well, just before the left hook comes.
Then again, we could rally for weeks ahead, how do I know?
If I had tons of $$$ to risk, I'd be doubling down today.
Instead I nibbled, CALL (SQQQ) PROSHARES TR SEP 20 14 $55 at 5.10 an option. (2).
With such a drop today, I couldn't double down, but I did add with a farther expiration.
If I had real strength, I would have bought 1 week from this Friday much cheaper and many more shares.
Good Luck!
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