I have been positioning long in the SQQQ buy buying out of the money call spreads.
This morning one can have the Sept 18 SQQQ 9/12 bull call for about .15 ($15)
If around September 18 the QQQ would trade where it was on June 1 this spread wold be priced minimum
10x higher. If SQQQ doubled from here the payoff would be 20X.
Evidently the market thinks SQQQ going to 9 to 12 is far fetched. Is it?