We are placing a short-term targeted butterfly in QQQ. The selling may intensify into expiration next week. In which case, this is a low risk/high reward way to try to take advantage.
Buy to open: QQQ Feb 20th (monthly) 595.00 strike put (ratio of 1)
Sell to open: QQQ Feb 20th (monthly) 585.00 strike put (ratio of 2)
Buy to open: QQQ Feb 20th (monthly) 575.00 strike put (ratio of 1)
Debit: 0.87
Max risk = 0.87 or $87.00 per spread
Max reward = 9.13 or $913.00 per spread