QQQQ Morning Update

Monday, April 7, 2008, 8:50 AM EST

Closing prices:
45.86 +0.27 +0.59%
Seven of the ten sectors finished higher. GOOG, AAPL and EBAY were very strong. Implied volatility for QQQQ puts goes down very quickly to 25%. It suggests that large traders sell heavily put options and bet on the upturn.
Intermediate-term outlook: BEARISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: VERY BULLISH
Current (8:50 am ET) QQQQ pre-market price: 46.17 +0.31 +0.68%

Preceding day market actions:
None

Current open positions:
1. Bull Debit Call Spread (opened on 11/29/07, 12/06/07, 12/07/07, 12/21/07, rolled on 01/07/08 and 01/28/07)
Long QQQFV Jun 48 Call
Short QQQFY Jun 51 Call
Average Debit 3.401
2. Bull Debit Call Spread (opened on 01/07/08, rolled on 02/13/08)
Long QQQFT Jun 46 Call
Short QQQFW Jun 49 Call
Total Debit 3.18
3. Long OZCAR Jan9 44 Call (bought at 5.33 on 2/5/08)
4. Bull Debit Call Spread (opened on 3/28/08)
Long QQQEO QQQQ May 41 Call
Short QQQER QQQQ May 44 Call
Debit 2.25
5. QQQQ (bought on 4/2/08 at 45.91, target 46.60)
6. Bull Debit Call Spread (opened 4/2/08):
Bought to Open QQQEP QQQQ May 42 Call
Sold to Open QQQES QQQQ May 45 Call
Debit 2.19, Target 2.41

Alerts:
None

Open the QQQQ main page for today's technical signals, reports and
charts:
http://www.optionsmart.com/osmembers/qqq/

The OptionSmart Team
qqq@optionsmart.com
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