P 2 Trade Alert — QQQ Synthetic Covered Call Roll - 705 to 721

We rolled the weekly short call on our QQQ synthetic covered call up and out again.

Stock Market - Regime Read

• Volatility: Low — VIX in the high-teens. Calm tape lets short-dated call premium decay quickly, and keeps roll pricing reasonable.

• Momentum: Bullish — QQQ has continued to grind higher (~730), which is exactly why the 705 call went deep ITM. We keep chasing the cap upward so the long synthetic can keep participating.

• Catalyst: Post-Fed week settling out, with the Juneteenth market holiday tomorrow — a quiet, low-news backdrop into a long weekend.

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