The Nasdaq100 
QQQ is having its worst day in months. We've known that a significant correction in BIG tech (The Mag-7) was coming. We didn't time it perfectly, but we timed it pretty darn well, and now, we're reaping the lucrative rewards of being RIGHT!
Our 7/19 $77
TQQQ put options nearly 7X'd this morning. I never "like" trading contracts with expirations that close, but what we've seen today provided a great example of how much reward they can carry if you're willing to take the risk.
That's also why I chose to push back the dates on my newTQQQ put position to 8/9. I ultimately believe that the QQQ could be playing out this head and shoulders pattern that will bring it down to $465 by August 1st. That said, I plan to sell a bunch of contracts once/ if we see $474, then re-purchase them around here ($482-$484).
I don't want to spend too much time celebrating, but in my opinion, it's necessary to take a victory lap when it's deserved. Congrats team. This market hasn't been easy to trade, but we've absolutely nailed it this week.
QQQ is having its worst day in months. We've known that a significant correction in BIG tech (The Mag-7) was coming. We didn't time it perfectly, but we timed it pretty darn well, and now, we're reaping the lucrative rewards of being RIGHT!Our 7/19 $77
TQQQ put options nearly 7X'd this morning. I never "like" trading contracts with expirations that close, but what we've seen today provided a great example of how much reward they can carry if you're willing to take the risk. That's also why I chose to push back the dates on my new
TQQQ put position to 8/9. I ultimately believe that the QQQ could be playing out this head and shoulders pattern that will bring it down to $465 by August 1st. That said, I plan to sell a bunch of contracts once/ if we see $474, then re-purchase them around here ($482-$484).I don't want to spend too much time celebrating, but in my opinion, it's necessary to take a victory lap when it's deserved. Congrats team. This market hasn't been easy to trade, but we've absolutely nailed it this week.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.