Portfolio 2 Trade Alert — The Well Paid Again

On Friday Tony Battista sold a QQQ put over the weekend and said, in his own words, that he might be going to the well one too many times. He wasn't. It came off this morning for 85% of the credit.

Why buy it back at all

The put expires at four o’clock today. Left alone it would almost certainly have gone out worthless and paid the full $79 rather than $67.

We paid $12 not to find out.

That is the…