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With all the calls for national unity over the past few weeks, who knew that GME would bring the country back together? Politicians of every stripe jumped on short-selling hedge funds and brokers who halted trading in the stock, and hailed the Redditors who decided that what was good for the Wall St. goose was good for the Main St. gander. Of course, even though GME fell back a bit yesterday, the broader market recovered from its previous day’s sell-off and managed to close higher. With FB stable on earnings last night, it seems like the market might be back to business as usual and keep heading higher. QQQ has a heavier weighting in the big tech stocks, and their strength could propel QQQ higher. QQQ’s 28% IV rank is right on the edge of the long vs short premium strategy, but short spreads aren’t generating quite enough credit, so that pushes debit spreads to the fore. If you think that QQQ will continue to rally in the next few weeks and are bullish on it, the long call vertical that’s long the 320 call and short the 322 call in the March expiration with 49 DTE is a bullish strategy that has a 74% prob of making 50% of its max potential profit before expiry.
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