From Saturday's Weekend Update "Key to confirmation that a significant decline is at hand will be market action early next week. Suffice it to say that market weakness after the opening bell on Monday should be met with the purchase of index puts ..." QQQ Daily Best guess is a decline to Fib retracement zone, 658-618, over the next few weeks, approaching June options expiration. It didn't take long after today's Open for the market to decline below Friday's lows and trigger what should at a minimum be a multi-week leg lower across all market averages. On Saturday I laid out my favorite two options to profit from such a decline. Here they are again as they are trading mid-day Monday: QQQ June $655 Puts SOXS 240 Minute Leveraged Bet On An Overbought Sector SOXS June $10 Calls Let's keep it simple for now, these two positions going forward. if market conditions intensify, we will add additional leveraged downside bets. BTC - Extra Credit Bitcoin has fallen from the top of its Wave 4 channel to around mid-channel, on its way to lower channel support. If that fails, BTC gets cut in half. IBIT 2-Day IBIT July Puts If the wave counts above for BTC and IBIT work out, those July $40 Puts are ten-baggers. "Extra credit"...to say the least.
