money when the stock market goes up, while put options make money when the stock market goes down. Professional traders do most of the writing of these options because they can cover them by holing an underlying position which offsets their risk or have offsetting positions in options themselves. Mostly options are sucker trades for regular people, and don't make money, but occasionally they pay off big. The risk is huge and you can expect to lose if you buy them 99 times out of 100. I rarely buy them, but expect a huge jump in the stock market now.
QQQ is the stock symbol for the market index that tracks the NASDAQ 100 index. It is traded on a stock exchange. Speculators, hedgers, etc. buy and sell these options on exchanges. You can go to yahoo.com and select the finance section and get a quote for QQQ by putting that symbol in the "GET QUOTES" block, and then click on the options choice after the quote screen comes up to look at the options prices for various months. The quotes for options are per option, but each option is for 100 shares, so if the quote is .01 and you buy one contract it cost you $100 plus commissions and exchange fees. Eoption is an online brokerage firm with the cheapest options commissions which is why the strategy I suggested works with them; the commission and fees on 2,200 contracts for example cost $293.24 so you really pay $2,493.24 on that trade. Otherwise eoption is not the easiest online broker to deal with; it would take a week or more to open an account with them and get it funded, so it is probably impractical to do the trade with them unless you already have an account with them. Speculating is not for the faint of heart.
"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.
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