ROLL QQQ Put (Adding A Week)

Buy to Close 9/30 QQQ $270 puts for $0.96

Sell to Open 10/7 QQQ $260 puts for $1.64

Net (new) proceeds: $0.68

Total Net Proceeds: $2.88

Total Net Return if expire worthless: 1.1%

I initiated this position by selling $270 QQQ puts for $2.20. Closing the position means I made $1.24 - which is a 0.45% return in a month. Not too shabby for idle cash in a down market...

But I'll roll my gains another week by collecting an additional $0.68 per contract and reducing my cash-at-risk by ~4%.

I'm not sure the best way to account for this kind of transaction - the two legs are very linked, but also could be thought of as separate transactions. For now, I'll show both ways...