QQQ 363 Calls Hedge for MEGA8 Tracker
Russell2k leading the way
As we mentioned in our note last night, the MEAG8 Tracker was looking to hedge downside with a higher Nasdaq move today. Currently the Tracker is going to sell 10 of the QQQ 363 Calls at 2.20 and that move will be reflected in today’s MEGA8 Tracker update. Once again this is not an invitation to do the same thing, so new readers please do not take this as advice but rather Magnelibra has put together the MEGA8 Tracker as an educational tool to track the progress of what seems to be the only stocks that matter! The added element is the hedging which Magnelibra is providing as an active management tool to follow along and learn with. Anyway here was yesterdays Tracker at the end of the day and today you will see the addition of the short 363 Calls at 2.20. Please note these prices are as of the close 6/26/23 and not reflective of current pricing:
The Yest Prc and Today’s Prc in the tracker above are equal because this is a new position at that price of 2.20, Yest Prc will remain 2.20 and we will update the Today’s Prc with today’s settlement price of the 363C
As far as today’s action, let’s take a quick peek at the board, where the Russell2k is leading the way today +1.48% while Crude is -2% on the day:
Alright we will be back later…
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