We backed away from a Nov 32 put bid yesterday when stocks seemed reluctant to surrender the suspicious gains they’d achieved on a short-squeeze in the opening minutes. However, I wouldn’t mind being short going into the weekend if QQQQ goes nuts today, closing at some absurd high. That rules out a middling target at 33.65, but not one at 35.40 that is shown in the chart. If the Cubes get within a dime of it, buy four December 33 puts (QAVXG). You can pay the offer this time, since spreads in this vehicle tend to be pretty tight. The puts would be a pretty good deal for 1.60, and so you could leave a limit order at that price with your broker. That price assumes implied volatilities will remain more or less constant throughout the rally; in practice, premium levels are likely to fatten.