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Strategies & Market Trends : JoAT's QQQ System
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To: Jack of All Trades who wrote (361)7/6/2004 4:59:38 PM
From: Gersh Avery   of 942
 
I have 37 calls and 36 puts to cover.

if they expire with qqq at 36.5 (anywhere between 36-37)
then I fork over $1.00 total to be split between holders of puts and calls.

I pocket the change.

if they close above 37 then I fork over $1.00 plus 37 calls.

I pocket the same amount of change ..

if they close below 36 then I fork over $1.00 plus 36 puts.

I pocket the same amount of change ..

July is locked in for me ..
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