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 Hi readers! This is another update on my options trading account. On Wednesday, I entered a QQQ at-the-money straddle. Here is the picture of the trade details, such as price and breakeven points:


Here is a picture of the trade a couple of minutes after I made it:




After a couple of minutes, QQQ had started to move more, and it started to move to the upside, which is why the long call was making money. 


Today, QQQ was at 376.86, which is awesome, as QQQ is continuing the trend upward. Keep in mind that the QQQ straddle strike price was 372, so this is a huge increase to the upside in just 2 days. Also, the breakeven point to the upside is 387.98, so if this trend continues, the straddle will definitely profit by the time of expiration. Also, the expiration cycle for this straddle is September 29, 2023, so the straddle still has a good month until expiration. 

I am planning to just wait and see what direction QQQ moves in. Of course, if QQQ starts moving a lot to the upside, I would start adjusting the spread by tightening the breakeven point to the downside, just to hedge myself against any big move to the downside. I would do the same thing but to the upside if QQQ goes down by a lot. If QQQ stays still, I might take advantage of the increasing theta and short some puts or calls.


Here is a picture of my account right now:


As you can see, since QQQ has been moving to the upside, the straddle is profiting by 400$. I will wait and see what happens and adjust the spread based on that. Thank you for reading, and see you all in teh next post!

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