FAANG Blowoff Makes a Tempting Short

It will be more than a little tempting to short into a sharp rally on Friday, since the stock market, FAANG stocks in particular, feels like it’s in a blow-off phase. Factor in the impending three-day weekend and the always-menacing possibility of horrific news, and it’s worth a gamble to take home a few put options in QQQ or calls in VXX.  We already hold positions in both but will be bidding to augment them as the week draws to a close.