Trade Ideas
UOA PRO New Trade Idea TQQQ 7-24
12,017 21January *2028* 63 calls bought in one order for 24.12 above open interest of 73 contracts. Stock 64.52.
New Trade Idea
Ticker: TQQQ
Stock: 64.52
Trigger: 66.36
Expiration Date: 21AUG
UOA: 12,017 21January *2028* 63 calls bought in one order for 24.12 above open interest of 73 contracts. Stock 64.52.
TQQQ $64.37 Last.
Large Jan. ’28 set ATM call buy that arrives with the ETF downtrending and threatening to lose the 100 SMA. Charts do NOT look good here but we’re adding it any way in anticipation of possible news developing. We do not seek out this type of idea often nor do we care for levered ETFs but many times “positive” news developments seemed to curiously develop when the market is on the ropes and the market is currently on the ropes. Not only that but some players seem to have a good idea as to when market-shifting news is close to dropping. We’re not predicting that, we’re simply anticipating that it could happen and that a squeeze would follow.
Trigger: $66.36, today’s current high. Need to see a legit turnaround attempt develop.
Strategy 1: Consider the TQQQ 21Aug. 67.00-77.00 call spread for $3.70 projected at trigger level today. Uncappable.
Strategy 2: Consider the TQQQ 07Aug. 67.00 calls for $3.70 projected at trigger level today.
We generally avoid going out further in time in these types of ETFs.
Targets: 67.53, 69.27, 71.37, 72.81 (20 SMA currently), 74.96, 76.38 (50 SMA currently)