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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: wooden ships who started this subject3/8/2001 9:04:19 PM
From: Karin  Read Replies (1) of 42834
 
NASDAQ NOTES (QQQ)
There were two very large block trades on the Nasdaq-100 Trust
(QQQ - 48.50) that went off today on the CBOE. The first was a
strangle trade that involved approximately 100,000 April 43 puts
for 1.50 and the same number of April 53 calls for 2.10. These
transactions happened between 3:25 and 4:05 and appear to be sales.
If this is the case, the seller collected $360 for every pair of
contracts sold. The objective of the short strangle is for the QQQ
to finish between the strike levels, 43.00 and 53.00, by April
expiration. The breakeven points for this trade are 39.40 and 56.60.
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