Thursday’s trading brought to you by the letters “ETF”
If you follow me on the ‘gram, or if you’ve caught the buzz over my “signature” hoodie on my livestream for premium subscribers, you know I tend to be at the forefront of trends.
And if you know some basic math, you know it takes three to make it a trend…
So when I saw three hot exchange-traded funds (ETFs) send up signals on my custom options scanners during Thursday’s live session with my premium subscribers, I knew there was a legit wave of interest in ETFs forming among options traders.
3 ETFs with all the action
- iShares MSCI Brazil ETF (EWZ)
This Brazil-based ETF cropped up on my scanner with roughly 1,000 contracts in volume trading at the February 2022 $34 calls, where only 593 contracts are in open interest.
That means new positions were definitely being opened here, even though the geographically focused EWZ has been on a steady decline since the last time it touched the $34 level… about two months ago.
- ProShares UltraPro Short QQQ (SQQQ)
The tech-loaded Nasdaq-100 Index (NDX) is easily tradable via the Invesco QQQ ETF (QQQ) – but what if you want to bet AGAINST mega-cap stocks like Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Tesla (TSLA)?
You could turn to call options on SQQQ, which aims to return three times the daily inverse of QQQ’s performance. In other words – when QQQ falls, SQQQ rises.
Yesterday morning, I spotted SERIOUS size at the Dec3 weekly $6.50 calls – a majorly speculative bearish bet on the market-leading tech sector taking a turn for the worse during the short term.
- VanEck Gold Miners ETF (GDX)
Bitcoin who? Traders on Thursday were loading up on GDX call options, which centers around gold mining stocks – check out the flow sandwiched between some “no signal” action on AFRM:
The $35 level has been a barrier here for GDX in recent months, so this speculative player is looking for a big breakout in gold miners during the short term.
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I’ll be back with more signals and options insights soon – stay tuned for more.
Founder, Profit Pregame