By Dan Darrow
September 19, 2022
Intraday Update: QQQ, SPY
Indices opened red this morning to continue the selling from last week, but have recovered some lost ground to trade near the unchanged mark. Rolling the QQQ/SPY hedges was a focus coming into the week, and we will take the opportunity this morning to adjust the positions:
- The QQQ Oct21 $300 - $290 put spread will be closed and a Nov18 $280 - $270 put spread will be opened.
- The SPY Oct21 $395 - $385 put spread will be closed and a Nov18 $380 - $370 put spread will be opened.
- Remember: these are hedge positions, and if you do not need or want a hedge, then it is better to focus on specific setups on QQQ and SPY
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**As of the date and time of publication