The Invesco QQQ Trust (QQQ) is a heavily traded ETF that tracks the Nasdaq-100. It’s been a tough year for QQQ as the predominantly tech-weighted index has seen plenty of selling of its largest components. QQQ is down almost twice as much for the year as the S&P 500. However, a covered call trader made a very large, moderately bullish trade on QQQ this past week. The trader bought over 1 million shares of QQQ while selling higher strike calls that expire at the end of April. The strategy collected $4.4 million in premiums while still providing some upside room in the stock.
