The indices I watch SPY, QQQ, and FAS are at interesting levels – they are approaching pre-Covid levels but not there yet. Does this mean these indices won’t go down further? No. They may and most probably will. Also, interest rates are coming down a bit. So I have decided to carefully sold the following puts.
Sold 20 TQQQ June 17, $21 Puts – $0.71
Sold 20 FAS June 17, $60 Puts – $0.72
Why $21 strike price for TQQQ? That was the price it was selling in Dec 2019! I’m willing to buy TQQQ at $21.
Why $60 strike price for FAS? That’s was the price it was selling in Oct 2017! I’m willing to buy FAS at $60!
I’m willing to buy TQQQ at $21 and FAS at $60! Remember my discussion on time travel? But why June 17th? Travelling to mother India on 16th! Let’s see how these trades pan out. Good luck!