QQQQ – Nasdaq ETF (Last:45.30)

We’ll use a cost basis of 0.72 for the two March 44 puts that I recommended buying yesterday.  They opened at 0.75, but the underlying stock was a tad shy of our 46.04 rally target at the time.  (The intraday low on the puts was 0.68.)  Now, offer two March 39 puts (QQQOM)  short for 0.77 apiece, good-till-canceled.  If successful, we’ll hold two bearish put spreads with the potential to produce a gain of as much as $1000 with no possible loss.