QQQ at resistance, trendlinebreak + retest TQQQ is 2x Bull QQQ, if QQQ down 20%, TQQQ will done 40%.
Short entry 27.1 Stop 28.6 Target 21, 16(=27x0.6)
Risk management is much more important than a good entry point. I am not a PRO trader. In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Trade active
⋅
BuyToOpen 2023 Sep Put Ratio Spread P12(sold 2)/P24 (bought 1) Limit 2.05
No Stop in Option, 2.05 is the hard stop, which is the max loss.
Comment
⋅
Correction: TQQQ is 3x QQQ. if QQQ down 10%, TQQQ will done 30%.
Trade active
⋅
BuyToOpen 2023 Sep Put Spread P13/P19 Limit 0.95 -- in the morning, 2 contracts.
BuyToOpen 2023 Sep Put Spread P14/P20 Limit 1.00 -- near market close. 1 contract
Trade active
⋅
BuyToOpen 2023 Sep Put Spread P16/P22 Limit 1.02
Trade active
⋅
BuyToOpen 2023 Sep Put Spread P17/P24 Limit 1.03
Trade active
⋅
BuyToClose Sep P13 0.29
Trade active
⋅
BuyToClose Sep P12 0.21 (2 contracts)
Trade active
⋅
BuyToClose Sep P14 0.29
Trade active
⋅
BuyToOpen Sep P33 BuyToClose Sep P24x2 Total cost: 1.13
@TORNADOF5, Yes. and right now the Impl. volatility is low under 20 (tradingview indicator: Volatility Percentile) , top is 100. OTM Put is cheaper. Give me 5 months and try my luck.