Alert: Close – QQQ

Ticker: QQQ
Price: $336.48
Date: 5/26/23 10: 15 am
Underlying: Invesco QQQ Trust ETF

Master Portfolio Contracts: 10

Notes:  We heard that some people were assigned on QQQ shares, so follow the trade detail depending on if you were assigned.  We are going to close this trade and we will look to reset this afternoon.  The QQQs have been ripping higher with the AI frenzy, so let’s exit the position and reset.

Trade Detail:

Trade Action 1: Sell shares you were assigned

Trade Action 2: Close the long-dated put for around 8.25 – 8.50
STC 21 JULY 340 put

Trade Action 3: Close the remaining put spread for a credit of around 4.70 – 4.75
BTC 26 MAY 326 put
STC 21 July 326 put

TRADE ACTION: Close the entire position for a credit of around 12.65 – 12.75
STC 21 JUL 340 put
STC 21 JUL 326 put
BTC 26 MAY 340 put
BTC 26 MAY 326 put

Position After Trade Actions: