Finally, Labor Day weekend beckons, the end of summer which showcased one of the best and worst trades of the year, all in one option package: QQQ Sep 20th $450P Best case, anyone adhering to our recommended 50% trailing stop got out of this trade with close to a 400% gain. Worst case, ignoring the trailing stop and taking a 50% loss this past week. Coming next, Sep-Oct-Nov, to be highlighted by a highly contested political drama domestically and two flash points of geopolitical uncertainty abroad. Accordingly, it is inconceivable that our stock market will end this year unscathed. We will get another swing at QQQ puts. QQQ - Daily This count is still viable and it implies a deep dive into September. QQQ fell 70 points between July 10th and Aug 5th. A repeat now sends the index to 400 by Sep 20th expiration, making those $450 Puts worth $50. Absent such a dive, expect them to expire worthless. I'm holding a handful, "just in case." PS: I may need an extra day to put together the Weekend Update, so if you don't see it Saturday by mid-day, expect it by Sunday.
