A Hidden Pivot target at 68.65 is roughly equivalent (though hardly equal) to the rally target in the June E-Mini S&P that I’ve suggested shorting. Let’s try it in this vehicle by buying four May 68 (monthly) puts if and when DaCubes get within 0.07 points of the target. A price of 1.70 would be about right if implied volatilities don’t change much during the ascent. In practice, however, in order to get a fair price, I’ll suggest monitoring the bid/asked for the puts once QQQ gets above 68.40. A final note: Stop yourself out of the position if the puts trade for 0.20 less than you’ve paid for them. _____ UPDATE: We’ll put this one aside for now, since the wait has grown boring and distracting.
