mrnotadvice OP t1_jedbwms wrote on March 31, 2023 at 4:38 AM

Reply to comment by Living-Giraffe4849 in Went long QQQ calls today. I feel very dirty. by mrnotadvice

So tbh the terminal price is not what I’m looking for. But if I was forced into a corner I would say it could easily go to $370. That’s if macro news flow stays quiet. My trade is purely a trade based on the amount hedge funds are lagging the top ndx stocks, how bearish they are, and known amount they have to put to work after eoq. They are very short tech and are being forced to get in. Jpm I believe must cover $28 bil I learned. And the big layoffs concern me. But again, if I’m right I’ll be out in 2-4 weeks with anywhere from 50% - 200% return.

Living-Giraffe4849 t1_jef650g wrote on March 31, 2023 at 3:50 PM

I understand why you think it should go up and I agree with the premise, but a 25% monthly rally would be INSANE even in normal times… I guess we’ll see but 370 is a loooong way off

If you’re doing long calls it doesn’t matter too much I guess, but you could be taking a massive risk for minimal gain

mrnotadvice OP t1_jef71sd wrote on March 31, 2023 at 3:56 PM

You are assuming I have no stop. But i do. also, I don't need it to go there - its where price could go with a little momo based off the daily chart. I will be long gone probably bc I have time rules to my trades. That's why my average long term trades are 10 days - with a average 50-60% return.