QQQ is flat today, straddling the 370 level. If it can close or make a hard intraday break below key level 369 aggressive traders can pick up either the Oct 20th $365P or $360P, looking for a drop into the $350's before Oct monthly expiration. As you can see from the 4 hour chart below, on a Wave 3 of (3) breakdown much lower prices are possible with 5x to 10X in either of those two puts. No need to jump the gun, but remember, it's an FOMC week. QQQ 240 Minute Trading Model
