By Licia Leslie
September 22, 2024
Hi Shoppers,
We may have a possible exhaustion gap in the Invesco QQQ Trust (Ticker: QQQ).
Now we need more evidence of the QQQs trading lower before we hop in.
If they do keep your eye on the ProShares UltraPro Short QQQ (Ticker: SQQQ):
As it trades over $8.00 the Sep27 8 calls will be a very nice cheap shot:
I expect SQQQ to trade up to $8.45 – $8.53 which will double these calls at the very least.
Trade Review
Bank of America (Ticker: BAC) did not trade $41 so no trade was made.
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain