PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQQ) November Put, Among Most Traded Today

By George Zabel
November 04, 2009 2:57 PM

Symbols: QQQQ

Posted in: Short Ideas, Options, Markets, Analyst Ratings, Movers, Trading Ideas, ETFs

PowerShares QQQ Trust, Series 1(NASDAQ:QQQQ) November Put option is among most traded today, this may indicative of a fall to come, most likely starting tomorrow or Friday the latest.

PowerShares QQQ could correct lower to as low as $39, early Put buyers acted on good judgement, or at least I suspect they did so, but the markets technical status confirms this scenario.

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PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQQ) November Put, Among Most Traded Today

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