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When you are trading QQQ options several things should be considered:

• The first thing you need to consider is the expiration month. Stock options expire on the third Friday in their contract month. At expiration options become worthless, the contract no longer exists. As a speculator you want to make sure you buy options dated far enough into the future to give the QQQ time to move favorably for whatever bet you've made.

• Next you need to decide if you believe the QQQ are heading higher or lower. If you think they are going up, you should consider buying call options. If you think they will fall, you should consider buying put options.

• Now you need to make a decision on which strike price to trade.

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