Calls or Puts on Monday?

Hi shoppers,

I'm trying something different this week.

I recorded a short video because what I'm watching on the QQQ makes more sense when you can see the chart.

There's one price I need the Qs to hold on Monday. If they open below it and keep trading lower, a reversal pattern I really don't like takes shape.

If they hold it for a day or two, I've got a target for the next leg up.

Monday's open will tell me whether I want calls or puts, and in the video I walk you through the level, the pattern, and how I'd play each side.

I also pulled up the semiconductors (SMH), and they're setting up the same way.

Give it a look before Monday's open.

Licia

 

Licia Leslie

Licia Leslie

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About the Author

Licia Leslie

Licia Leslie

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

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