QQQQ index trade working out well

Today was to be a neutral day after yesterday's large uptrend intra-day so I decided to track and not trade my newish QQQQ index trade plans... which is too bad. At least my plan is viable and that is the main thing.

Seeing as the market displayed a modest gap up from yesterday's close I would play the gap fade at the open to buy puts and consider a bounce to positive to buy calls if everything looked good... the calls would be a pure speculative thing and would have no real reason to play them though.

I jotted down the entry at the open for the Jul 23, 46 puts at 57 cents (the ask). Being that it was a neutral I would target the next PP level. Opening at $45.75 with R1 at $45.72 and 1/2 R1 at $45.26, that would be my target.

Once the QQQQ hit $45.26 the puts were at 83 cents for a profit of 26 cents based on 9 contracts. $234 in profits.

Not bad for a little hit and run. I am still tracking the price to see what my other plans would have produced and I am considering scaling out of positions using various techniques rather than using an all or nothing approach. ie: First half closed at first PP target, second run for trailing stops... I may have to double my trade size to make this worthwhile so I may skip it and stick with the profits (losses) based on my plans in the all or nothing fashion.

Jeff.