Time to close and reset the QQQ calendars/diagonals and reset. We are taking a loss on the close and re-opening a single diagonal and going longer term. This will keep the entry price cheaper and then allow us to move/adjust with the market. 


This market itself is choppy and really does not give us a true indication of direction. Higher interest rates favor a lower market but as we know the market can be very irrational. 


Note:  We are also changing our 50K Portfolio allocation for this QQQ trade from 4 to 3 contracts for now until we see more consistency and less whippy movement in the markets.




Invesco QQQ Trust ETF (QQQ):  292.25




TRADE ACTION 1: CLOSE the QQQ 7 Sep 315/21 Oct 315 call calendar for a credit of around 3.75

BTC the QQQ 7 Sep 315 call

STC the QQQ 21 Oct 315 call


TRADE ACTION 2: CLOSE the QQQ 7 Sep 331/21 Oct 335 call diagonal for a credit of around 0.75-0.85

BTC the QQQ 7 Sep 331 call

STC the QQQ 21 Oct 335 call




TRADE ACTION 3:  OPEN the QQQ 21 Oct 292 / 23 Sep 293 put diagonal for a net debit of around 3.70

BTO the QQQ 21 Oct 292 put

STO the QQQ 23 Sep 293 put


The 50K Portfolio is trading 3 contracts; the 10K Portfolio is trading 1 contract.


Note: If you were not previously in the QQQ trade, you can enter this position with our new diagonal spread (Trade Action 3).