Yesterday's Premium Alert suggested shorting QQQ via puts on a break below 560. This morning, that break has taken place, as per the chart below. Any retracement back above 560 can be used to enter, but if index goes into free fall, don't try to finesse pennies, be holding Sep puts. QQQ is trading below the parallel channel coming up from late May. At least an initial position in Sep QQQ puts is warranted. QQQ Sep 19th Puts Any of these strikes work for an intermediate term decline in QQQ, targeting 500 over the next 4 weeks.
