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.
* 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