Replies to post #499 on Invesco QQQ Trust Series 1 (QQQ)

[farooq]

Actually buying put on index is bullish IMPOV. Market maker who sold is not going to take risk he will not let it go below 43 and if we hold 43 we will go to 46.
Long puts buyer could be long stock and he is not willing to take more then a dollar risk.

Index buyers are supposed to be more sophisticated traders.
It might not be what it look like.

MM will try to push it higher (QQQQ) so he can spread risk or buy back puts from public at lower level.

We can drop tomorrow but chart does not suggest that outcome.
If we fail a resistance we suppose to drop fast bears suppose to hit bulls hard, but they are reluctant.

There is huge change on the horizon, I will try to write when I get time.

Happy trading.

I did sold my puts @ 1.03 that is about 22 % return on equity.