Hello Investors,
We are managing our trade in QQQ closely this week. Yesterday we exited our hedge for some profit. Today, we sold the Oct 16th (monthly) 288.00 strike puts (naked) for +0.81. This essentially converts our naked call trade into a naked straddle. It is a better hedge if we go lower with the exception of if the stock goes sharply lower.
If you prefer not to have a “naked” put. Then buying around 20 shares of stock in QQQ would act as a similar “delta hedge”. Or buying a call with a delta of 0.20 would be a similar hedge.
More updates are likely to follow this week.