By Dan Darrow

November 01, 2022

Intraday Update: QQQ, SPY

With the FOMC rate decision coming tomorrow and recent Fed meetings leading to significant volatility across the market, it makes sense to adjust the hedges into today's early strength. The latest rally has sent the QQQ and SPY put spread hedges further out of the money, so the plan will be to roll up/out both this morning:

  • Close $QQQ Nov18 $265 - $255 put spread and open a Dec16 $275 - $265 put spread.
  • Close $SPY Nov18 $360 - $350 put spread and open a Dec16 $385 - $375 put spread.

Open Positions

* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under "Trader Author Portfolio Holdings.".

Trader Author Portfolio Holdings

**As of the date and time of publication