Ticker: QQQ
Price: $336.48
Date: 5/19/23 1:20pm
Underlying: Invesco QQQ Trust ETF

Est. Net: $5830 debit

Master Portfolio Contracts: 10

Notes:

We’re finally getting a little pullback on the market ripping higher. QQQ is out of money and needs an adjustment / another leg. We are doing that today. Our hope is that next week we can roll the short puts for credits.

Be on the lookout for a new XBI trade as well.

We are hunting other trades at the moment but until I see the direction of the market over the weekend we will hold off on adding new trades until Monday or Tuesday. SMH also needs some adjusting so be aware of alerts on Monday or Tuesday for that.

Trade Detail:

TRADE 1: Open a new calendar

BTO 21 JUL 340 put
STO 26 MAY 340 put

Price: 5.81 – 5.91 debit

Position After Trade Actions:
+10 21 JUL 326 put
-10 26 MAY 326 put

+10 21 JUL 340 put
-10 26 MAY 340 put