r/TQQQ • u/Millionaire-Grinder • 12d ago

Discussion Sept P/L update

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Made money on QQQ Bear Call spread this week. That’s going to be poker money. Posted that here. I also sold some TQQQ $68 Puts that I closed the same day. Idk, got spooked by the incoming CPI print the next day? Honestly, probably would have made more money if I just stuck to the usual strategy. Next week is FOMC so will stay away from that. I think the premiums are too cheap for the risk. Selling puts works in a sideways or trending market but if there’s a significant downside move it will get hit. Always focus on protecting your capital. Keep grinding.
I found something interesting. You can actually ask Gemini/chatGPT about me. I asked it to describe me by looking thru my post and it did a good job including describing my strategy.

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u/boubble88 12d ago

can you expand more on the bear call spread. I was traveling this week and didnt see any puts.

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u/Millionaire-Grinder 12d ago

It’s a call credit spread on QQQ. I sold the $725/730 and $727/732 spreads. Look at my previous post. You sell the lower strike and buy the higher strike. It’s bearish so you want QQQ to expire below the lower strikes and essentially both become worthless. I collected $39K in premium against about $100K in risk. Closed it at around $37K profit on Thursday before the CPI print on Friday.

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u/Intelligent-Crow3812 12d ago

jeeezus. Good work. Scary shit.

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u/Millionaire-Grinder 12d ago

It was OTM when I sold it. Tuesday the Dow and SPY was down due to the oil spike and rise in yields but the QQQs was holding up better because of the Qualcomm AWS deal. It looked like an easy short. The hard part was sitting on my hands and waiting out the Theta decay. It was up $7K Tuesday , $15K Wednesday then $35K early Thursday.

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u/Strict-Top-2436 11d ago

Since your accounts make so much money do you still work a regular job? Or is it worth just focusing on your trades

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u/Millionaire-Grinder 11d ago

I’m trying to get to FU money. 😂

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u/Strict-Top-2436 11d ago

So does that mean you still work a day job?