Assuming the selloff doesn’t take out the 260.11 point C low shown in the chart, the bullish pattern projects to as high as 312.29. This would not be farfetched if Trump wins, so I’ll recommend putting on some butterfly spreads centered on the 310 strike. Specifically, you should bid 0.10 for 16 Nov 20 305/310/315 call butterflies, good through Friday. Alternatively, you can try to leg into the position, first by buying 305/310 calls spreads for 0.20, day order. QQQ might have to fall by 3-4 points to get this order filled. If the bid succeeds, offer the 310/315 call spread for 0.20. This is how we would leg into the spread for no cost, but I may adjust the order depending on how QQQ behaves on Thursday and Friday. ______ UPDATE (Oct 29, 9:53): The quoted midpoint on the spread is around 0.16, so we’ll give out 0.10 bid one more day. If it doesn’t fill, we may have to pay up on Monday.
