Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Bought QLD and Wrote June 34 calls against the shares

|Includes: ProShares Ultra QQQ ETF (QLD)

Bought shares at 35.32, and wrote calls at 2.55/contract for an intrinsic time value of 1.40/share.  This is both a good hedge against the downside as well as an excellent return for the weeks remaining till option expiration.