Wednesday, May 10, 2006

Closed May 42 puts.

Q's have dipped and the RSI 5 is well under 25 (22.50) and hit a low of 9.36 today. I'm closing the QQQQP option at $0.55 ($0.10 gain) and rolling into the QQQ EP (May 42 calls) for $0.25 per contract. Looking for a move up after the market takes in the Fed announcement.

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