QQQQ Nasdaq 100 Trust (29.76)

If the Cubes fall, let’s try to leverage a Hidden Pivot support not far below, at 29.33, by buying a January 29 call (QAVAC). A price of 1.50 would be about right with the underlying shares trading at the target, so you can park a limit order at our price with your broker. _______ UPDATE: Lower the bid, bottom-fishing the calls when the underlying trades for 29.13, not 29.33. The change is due to the stall at 29.75 on the way down, This is the Hidden Pivot midpoint associated with 29.13. The calls should be trading for around 1.39. _______UPDATE: Calls now look 1.33-ish, so lower the bid to 1.35. It can be entered as a limit order. Market stop-loss is to be used if calls trade 0.10 below where bought. ________ FURTHER UPDATE: The suggested 1.35 bid would have bought the calls on the so-far low of the day. If you bought more than one contract, take a partial profit on the current bid of 1.40 and let the rest ride, using a stop-loss that would permit (in theory) no loss. You’ll be on your own otherwise, since my goal was to get you into an option trade in a good place and at a good price.