What’s the Purpose Of A 1-Day QQQ Trade?

Dividend Investing
by Jay Soloff
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It’s not often that you see a large options block trade open up with only a day until expiration. Yet, that is what occurred last week in Invesco QQQ Trust (QQQ), the extremely popular Nasdaq 100 ETF. The trade appears to be a one-day covered call that generated over $5 million in premiums collected from a trader selling 27,500 calls.

Author: Jay SoloffJay Soloff is the Options Portfolio Manager at Investors Alley. Jay is also the editor for 48-Hour Income, Options Insiders, and co-editor of Weekly Income Accelerator and POWR Income with Tim Plaehn. Prior to joining the online investment world, Jay was a floor trader and market maker on the CBOE, the world's largest options exchange. His experience includes trading a multi-million dollar options portfolio in equities options as well as serving as a consultant to Wall Street options trading groups. Jay also spent time as a senior analyst at a hedge fund of funds, where he analyzed professional options funds as well as traded option strategies for hedging purposes. All told, Jay has 20 years of options trading experience. He received his undergrad degree in Economics at the University of Illinois - Champaign, and his MBA and Master of Science in Information Management from Arizona State University.
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