QQQ Stops on a Dime

$QQQ

Funny how these things work ….

I like to sell call spreads on a day like yesterday, where an index like QQQ 0.00%↑ tells us to pump the brakes, even if only temporarily. Vol is still low, but short dated 505/507 call spreads were paying decent enough to hedge the portfolio some. Being wrong on a small hedge trade like this is inconsequential, as it means the unrealized gains on the longs is increasing, and if we correct some more these will be quick winners.