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Every weekend we are treated to a variety of Tweets designed to arouse some and infuriate others. The fearless leader of NK and the NFL came under fire within 24 hours of each other. So from a standard deviation perspective, you can't get much farther apart than those Tweets. Maybe we call it 3 Sigma Tweeting in that they were so different the NFL issue almost blanked the NK issue over the weekend. I don't think that is what upset the QQQ today.
It seems that every broach with new highs is met with a deft selloff. AMZN is showing some volatility, AAPL too (hoving above my $148 from last week, yikes) snd even the great NVDA is having trouble. No real tech headline news but maybe some iPhone1000 worries. Maybe it is end of quarter as some of our Pro Chat roomines suggested. Time to lock in some big money.
We did see the high 130's in Jun for QQQ so that could happen again. That drove a 9.8 VIX to the 12's for a bit bfore it backed off similar to what we had for today. The only difference is the War of Words which has tossed in a monkey wrench from time to time. I would pick a cycle that would expire after the the quarter end to sell some put spread in QQQ.
Oct13 cycle looks decent. Selling 3 handle put spreads outside the 143 straddle is the ticket. VIX call spreads would make a decent hedge although the VIX Oct future is a touch pricey.
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