Yo Pit Crazies,

One of my favorite characters in the Seinfeld glory day was the Soup Nazi.

You don’t order the soup right, no soup for you.

There is a bar in San Francisco, nicknamed The Persian Room, on Haight Street, that had an old-time bartender named Bruno who only made drinks a certain way, and they were fabulous. 

If he did not like how or what you ordered, he would say, “The drinks are better across the street.”

That was your cue to leave.

I bring up this nostalgia because traders wanted something from Jerome Powell on Friday and they did not get it.

Just because you want the soup – or the martini – does not mean it’s going to be served up. 

The last time this party got spoiled, the tech- heavy Invesco QQQ Trust (Ticker: QQQ) got hammered.

Is that set to happen again?

QQQ Is off 25% from the Top

Funny enough, the last time QQQ IV was this high, QQQ was testing the 50-day moving average.

It certainly looks like it might do that again.

QQQ three–month chart on top with implied vol in red on the bottom.

I like a QQQ put with some VIX puts here.

It is similar to my SPYMaster strategy and most likely will cover it with my Pro students on Monday (and drop the idea in the Pro Chat Room).

Now that stocks are moving in both directions again strategies with a long and short component should do very well.

Should be a great week for my SPYMaster strategy.

That’s a hint for anyone looking to profit.

The Rundown

Option Shopper

Licia ran with a daily candle and cheap Aug26 expiry puts in Occidental Petroleum Corp (Ticker: OXY) for a 118% gusher! I heard some Pro Students did 3x on that one!

OPMentoring

I closed an Apple Inc (Ticker: AAPL) strangle for a 12% gain Friday.

To Your Trading Success,

AG