For this pattern, we executed a QQQ put spread.
We recognized an A-B-C wave 2 flat with the potential for a breakout to new highs.
While the QQQ long call strategy would have captured more percentage profits, we chose the put spread strategy just in case the rally didn’t materialize.
Net credit = $0.83
Quantity = 15 option spreads
Max profit = 15 * $83 = ~$1,200
Pattern we predicted: A-B-C Wave 2 Flat (learn more about this pattern in the members section)
Entry Date: December 2
Expiration Date: December 16
Days Held: 14