By: Steve Smith
I’ve been droning on for the past week how Options360 has been reducing risk by paring positions and patiently waiting for a good opportunity to deploy capital.
Today, we made a major move.
But be clear, it’s not a one-way play.
The new positions are a combination of both bullish and bearish positions in the Invesco Nasdaq 100 (QQQ).
I plan on being able to take profits on a rally AND score a big win should we have another large leg down.
I sent this Options360 alert to members this morning. I’ll be giving more color on this trade during next Tuesday’s webinar.
Let’s see if we can confuse ourselves and trade our way through this chop.
We are deploying capital to establish two positions in the QQQs…
BUT… I can’t give away the details of the trade here.
We have been patient over the past few weeks, keeping our trading light and small. Now, with the market consolidating, it looks like a good time to get in position for the next move.
How we are positioning for that move? You’ll have to join me to find out!
Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.
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