These two PRO Portfolio Put positions for July 15th expiration will go off the board at the close on Friday: Both of these positions are to be rolled over into the Aug 19th expirations. As is usual, and especially in light of expected volatility in the next few weeks, out-of-the-money puts are preferred. QQQ This first table is of QQQ and as of this morning, my preference is the top line Aug 19th QQQ $270P trading at about $5.00. Also attractive are the $275P and $280P. AMZN The July 15th $120P can be held until Friday's Open, then flipped for the August 19th expiration at the $110, $105, or $100 strike prices. NOTE: All of the above puts for QQQ and AMZN are up about 25% today on about a 2% drop in Nasdaq. Minimum expectation is for a 10% drop in the next few weeks assuring triple digit returns for the listed Aug options. "Minimum" means exactly that, as I the Elliott Wave price pattern, fundamentals, FOMC, and geopolitical backdrops are all supportive of a much deeper decline. Once I see confirmation of a Wave 3 leg down, more aggressive trade ideas should be forthcoming.
