Intraday Update: QQQ, SPY - T3 Live

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August 08, 2022

Intraday Update: QQQ, SPY

Action has slowed down during the afternoon, and QQQ and SPY are spinning around the unchanged mark following a strong early run. We are going to take this opportunity to adjust up/out the hedges pre-CPI reading on Wednesday morning:

The QQQ Sep16 $290 - $280 put spread will be closed and an Oct21 $315 - $305 put spread will be opened.
The SPY Sep16 $385 - $375 put spread will be closed and an Oct21 $410 - $400 put spread will be opened.
Note: these are hedge positions, so if you do not need or want a hedge, then it would be better to focus on specific setups on QQQ and SPY.

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.".

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Trader Author Portfolio Holdings

**As of the date and time of publication

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Scott Redler, Derrick Oldensmith, and Patrick Hawe are associated members of T3 Trading Group, LLC (“T3TG”), a SEC registered Broker-Dealer & Member of FINRA SIPC. All trades made by Scott, Daniel, Derrick, and Patrick are placed through T3TG.

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