....to complicate another painful drawdown Wave 2, our December bet, SQQQ calls, underwent a 5 for 1 reverse split today. "ProShares UltraPro Short QQQ (SQQQ) will have a 1-for-5 reverse stock split that will become effective on Thursday, November 20, 2025. This means that for every five shares owned before the split, shareholders will receive one new share. "Symbol Change: Options on the "new" SQQQ shares may trade under a modified ticker symbol (e.g., SQQQ2 in previous instances). Brokers will typically show this updated symbol, though you might only see it if you held the options before the corporate action occurred." This is the Dec 19th SQQQ calls appear on my brokerage statement: SQQQ 120 Minute Obviously, the strike prices (and/or volume) need to change to reflect the 1-for-5 reverse split, which I assume will be forthcoming. This chart has been updated to reflect the reverse split. QQQ 120 Minute Meanwhile, QQQ 120 minute price structure looks like a just as ominous Wave 1-2, 1-2 and third wave collapse...pending. With today's NVDA inspired rally, the pattern for QQQ looks even worse than it did at the recent low on Tuesday at 591.34. QQQ target remains 560-520. IWM 120 Minute Same pattern as QQQ, same prognosis: IWM target 220-200.
