Price Forecast:

Bullish Case: TQQQ is likely to experience upward momentum due to strong institutional interest and stable implied volatility despite recent flat trading, indicating potential for growth in tech stocks.

Bearish Case: Increased market uncertainty coupled with elevated options implied volatility suggests a significant risk of correction, especially following the recent flat trading in the context of high volatility levels.

Potential Outcomes:

1) TQQQ increases to $80 (40% probability) due to bullish institutional sentiment.

2) Flat trading around $77 (30% probability) reflecting indecision.

3) Drop to $70 (30% probability) driven by market correction amid high volatility.

Trading Oracle: Engage in a bullish vertical call spread. Buy $77 strike calls and sell $78 strike calls expiring in 4 days. This strategy captures potential upward movements while managing risk. Aim for a target return of around 30% with high probability due to favorable implied volatility dynamics.

November 20, 2024