u/NumerousFloor9264

Finally got a chance to put together an overview of my long TQQQ put strategy aka 'TQQQ War Chest'. It has many flaws and I've tweaked it a lot since beginning in 2023, but this is where is stands at present. I will link to this post on future weekly posts.

Will repost if I make any new/additional tweaks as I blunder my way along the path to future glory. Good luck everyone. Ignore the short term noise. Eyes on the 2030s. LFG.

Again, not much moving the needle this week.  Markets reaching new highs despite doomsayers banging drums about oil shock and elevated bond yields.  Hard to believe summer is more than half over.  

Background: Running a collar on TQQQ plus constant TQQQ DCA.  I am buying long TQQQ puts to protect downside and trying to pay for them by selling QQQ puts and TQQQ CCs.  

Current Value of TQQQ War Chest (cash+long TQQQ puts+TQQQshares): With the recent rally, currently at $7.47m. That compares with $3.5m 2025, $2.0m 2024 and $609k 2023.

Walk Away Value (If I liquidated the War Chest and bought back the QQQ short puts and TQQQ CCs): Around $6.02m, pre-tax.  This includes other port income and outside cash added, totaling around 2.89m. 

TQQQ long (protective) puts: 726 contracts, Jan/28 exp. Book value $1.49m and current market value around $1.45m.

Cash Hoard: Minimal growth. Currently approx $423k.

QQQ short puts: 15 at $670 strike. 100 at $630 strike. The $670s are just sitting there, decaying. The $630s I am still rolling. It is my only source of income at present from my beaten down collar.

TQQQ CCs: Still deep in the red. Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept/26 exp calls with strike $60 (320 contracts). The current cost to close them all out is around $1.55m. Remaining patient.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $478k. TQQQ long puts book value $1.49k, so I’m in a deficit of around $1m.

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 67.9%

Pretty quiet this past week. Hormuz still in disarray. CPI on Wednesday may be a surprise.

Current Value of TQQQ War Chest: With the recent rally, currently at $7.47m. That compares with $3.5m 2025, $1.9m 2024 and $607k 2023.

Walk Away Value: Around 5.97m. Added this line to the chart. The value represents what I'd walk away with if I closed everything out, pre tax. I can't get the earlier values b/c I don't know what the price of my CCs were previously. I should have posted it all along, but didn't think I would get trapped with CCs like I have so I just ignored it. In any case, will keep it updated moving forward. I expect it will not move much unless I get rid of my CCs. I also updated my 'cash added' to reflect the $ I've dedicated to this plan that comes from selling options etc on my other holdings. It (around $800k), plus the outside money I've added from my job (around $2.0m), is about $2.9m.

TQQQ long (protective) puts: 726 contracts, Jan/28 exp. Book value $1.49m and current market value around $1.57m.

Cash Hoard: Slowly recovering. Currently approx $416k.

QQQ short puts: 15 at $670 strike. 100 at $630 strike. The $670s are just sitting there, decaying. The $630s I am still rolling. It is my only source of income at present from my beaten down collar.

TQQQ CCs: Still deep in the red. Cost to close them all out is around $1.45m. Zero chance I'll be doing that. Remaining patient.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $474k. TQQQ long puts book value $1.49k, so I’m in a deficit of around $1m.

Skeletons in TQQQ closet: Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept/26 exp calls with strike $60 (320 contracts).

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 65.2%

Is anyone else seeing this 'new posting' format? Not sure how it'll mess with my posts, kind of annoying, tbh.

Travelling, so didn't post yesterday. 

Current Value of TQQQ War Chest: With the recent rally, currently at $7.13m. That compares with $3.3m 2025, $1.8m 2024 and $576k 2023.   

TQQQ long (protective) puts: 726 contracts, Jan/28 exp.  Book value $1.49m and market value Aug 3/26 around $1.74m.

Cash Hoard: Slowly recovering.  Currently approx $406k.  I will do a smallish bulk buy if TQQQ hits $44 or so.  

QQQ short puts: QQQ touched the high $660s last week, so I aggressively defended my 50 contracts. Bought 35 contracts back at a loss and rolled the remaining 15 contracts out 6 months (exp mid Feb/27) for a debit of around $7-8k. Doing that dropped my notional exposure by 3500x$670 = $2.35m, so it was worth it. If this rally continues, then I'll try to get out of the 15 contracts by rolling up/in and hopefully close them out for pennies, then reopen the position during a pulllback. The 100 contracts of $630 strike are still in effect, so will keep rolling them at DTE 21/28 cadence.

TQQQ CCs: The cruel eye of hindsight. Would have been nice to close these out when TQQQ was in the $60s but have to stick to the plan. 

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $469k. Basically made no progress this week because I had to defend the $670 QQQ puts.  TQQQ long puts book value $1.49k, so I’m in a deficit of around $1m.   

Skeletons in TQQQ closet: Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept/26 exp calls with strike $60 (320 contracts).

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 55.5%

My, how the mighty are falling 😂.  TQQQ touching close to 30% down from ATHs reached in early June.  Fed meeting on deck as well as big tech earnings and jobless numbers.  LFG.  

Current Value of TQQQ War Chest: Dropping below 7m, currently at $6.93m. That compares with $3.4m 2025, $1.9m 2024 and $585k 2023.   

TQQQ shares: Buying more as QQQ between 50-200d SMA.  73,790 shares at cost basis $28.44/share.  Current market value of TQQQ shares $4.72m.

TQQQ long (protective) puts: Buffering this recent drop, though poorly.  726 contracts, Jan/28 exp.  Book value $1.49m and market value around $1.82m.

Cash Hoard: Slowly recovering.  Levels are too low to justify any bulk buys, despite being 25% down from TQQQ ATH.  Currently approx $390k.  If TQQQ keeps dropping, I will do a smallish bulk by at around TQQQ $44 or so.  

QQQ short puts: Full exposure with $670 strike 50 contracts and $630 strike 100 contracts.  Will aggressively defend the $670s if the strike gets touched this week.  That will curtail my premium income but it must be done.  If we languish between $670 and $690, then rolling will bring $20-25k/week to the cash hoard.

TQQQ CCs: Some dim light on the horizon.  Gosh I would love to close these out and take some pressure off, but need to stay patient. 

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $470k.  TQQQ long puts book value $1.49k, so I’m in a deficit of around $1m.  Big deficit to chip away against, but I’m embracing the grind.  

Skeletons in TQQQ closet: The skeletons are showing some weakness but remain firmly jammed in the closet.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept/26 exp calls with strike $60 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 55.5%

Travelling, with limited access to internet. Still managed to put in buy order for this week. Keep grinding away.

CPI for June tomorrow. Middle east chaos continues. Fed rate decisions looming and banks releasing earnings, lots of catalysts for either direction.

Current Value of TQQQ War Chest: Currently stable at $7.4m. That compares with $3.2m 2025, $2.1m 2024 and $454k 2023.   

TQQQ shares - Bumped up the buy this week a bit again to reflect the tiny pullback. 73440 shares at $28.25. Current market value of TQQQ shares $5.49m.

TQQQ long (protective) puts - $70 strike, Jan/28 exp. Book value of puts $1.488m. Market value around $1.6m.       

Cash Hoard: Up a bit from last week to $340k. It should slowly and consistently climb given my biggest expense (rolling long TQQQ puts out 1 yr) is over and done with.  

QQQ short puts - Full exposure with 50 contracts at 670 strike and 100 contracts at 630 strike. Will keep rolling. If we get a rally and QQQ spikes upward, I will probably let the puts decay/expire and re-enter during an RSI < 50 pullback.

TQQQ CCs - The disaster remains.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $422k.  TQQQ long puts book value $1.488m, so I’m in a deficit of around $1.06m. Will keep grinding.

Skeletons in TQQQ closet: Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept 18/26 exp, strike $60 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 69.0%

Happy 250th USA. Oil trickling down. Fed minutes on deck. In a bit of a holding pattern, it seems.

Current Value of TQQQ War Chest: Currently $7.4m. That compares with $3.2m 2025, $2.1m 2024 and $454k 2023.   

TQQQ shares - Bumped up the buy this week a bit to reflect the pullback. 73300 shares. Current market value of TQQQ shares $5.57m.

TQQQ long (protective) puts - bit the bullet and rolled last week. $70 strike, Jan/28 exp. Book value of puts $1.488m. Cost was close to $600k. Wowser. TQQQ exp dates are not optimal, but I'll have to work with what is available. Won't have to worry about rolling out in time again until next year, so that's good.       

Cash Hoard: Massive beating/depletion, as expected. Down to $314k. I am vulnerable as a result. Paltry cash means I won't be able to do much of a bulk buy if TQQQ plummets in the near term. In any case, now I will focus on building the cash hoard back up.  

QQQ short puts - Full exposure with 50 contracts at 670 strike and 100 contracts at 630 strike. Will keep rolling. If we get a rally and QQQ spikes upward, I will probably let the puts decay/expire and re-enter during an RSI < 50 pullback.

TQQQ CCs - The disaster remains.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $408k.  TQQQ long puts book value $1.488m, so I’m in a deficit of around $1.08m. Yikes. Big deficit to chip away against but I will keep grinding.

Skeletons in TQQQ closet: The skeletons remain quite large.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept 18/26 exp, strike $60 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 72.0%

Not paying attention much this week again.

Current Value of TQQQ War Chest: Currently $7.4m. That compares with $3.2m 2025, $2.0m 2024 and $412k 2023.   

TQQQ shares - Bumped up the buy this week a bit to reflect the pullback. 73160 shares. Current market value of TQQQ shares $5.55m.

TQQQ long (protective) puts - $70 strike, Jan/27 exp. Will probably roll out to Jan/28 exp in early July, unless QQQ plummets.       

Cash Hoard: Growing, $924k, but will get crushed down to $400k or so when I roll my long puts. 

QQQ short puts - Full exposure with 50 contracts at 670 strike and 100 contracts at 630 strike. Will keep rolling.

TQQQ CCs - Utter disaster.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $298k.  TQQQ long puts book value $752k, so I’m in a deficit of around $454k. Big deficit to chip away against.   

Skeletons in TQQQ closet: The skeletons remain quite large.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept 18/26 exp, strike $60 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 72.0%

Not paying attention much this week.

Current Value of TQQQ War Chest: Currently $7.7m. That compares with $2.9m 2025, $1.9m 2024 and $397k 2023.   

TQQQ shares - Small weekly buy. Current market value of TQQQ shares $5.98m.

TQQQ long (protective) puts - $70 strike, Jan/27 exp. Will probably roll out to Jan/28 exp in early July, unless QQQ plummets.       

Cash Hoard: Slowly growing, but will get crushed when I roll my long puts. 

QQQ short puts - Back to full exposure. Will keep rolling.

TQQQ CCs - Utter disaster.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $275k.  TQQQ long puts book value $752k, so I’m in a deficit of around $475k. Big deficit to chip away against.   

Skeletons in TQQQ closet: The skeletons have grotesquely enlarged and the closet is bursting at the seams.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept 18/26 exp, strike $60 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 78.9%

Quick little V shaped recovery and just like that the 15% red day is casually tossed in the dustbin of forgotten history. Hard to believe.   

Current Value of TQQQ War Chest: Hitting a new high today, currently $7.8m. That compares with $2.94m 2025, $1.96m 2024 and $391k 2023.   

TQQQ shares: Tiny buy this am after the open. Total shares 72920. Cost basis $27.91/share. Current market value of TQQQ shares $6.1m.

TQQQ long (protective) puts: 726 total contracts, Jan/27 exp.  Will roll these out to Jan/28 exp later this month.        

Cash Hoard: Currently approx $866k. Saw decent growth as I wasn't required to roll my long puts up and was forced to roll my CCs way out (see below). Hoard will get hammered at the end of June as I will roll my long puts out to Jan/28 exp at a huge cost. It must be done.   

QQQ short puts: Back to my normal 50 contracts with strike 10% off QQQ ATH ($670 strike) and 100 contracts with strike 15% off QQQ ATH ($630 strike). Was happy with how I managed to sell them during the 15% down red day. If we keep charging ahead, I think I may just let them decay and avoid rolling out in time for pennies.

TQQQ CCs: Tried to roll my $57 strikes out in time, but saw that because they are so deep ITM, there are no $57 strikes available anymore. Hence, to get a tiny credit ($0.55/share), I had to roll them all the way out to Sept/26 exp. Lesson learned for me. In the future, I will try to get on a strike that is a $5 multiple as soon my strike is tested.  All my CCs are multiples of $5 now, so the disaster with the $57 strikes shouldn't happen again. My Jan/27 exp CCs continue to go deeper ITM.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $261k.  TQQQ long puts book value $762k, so I’m in a deficit of around $501k. Big deficit to chip away against, especially now that my TQQQ CCs are fucked, but so it goes.  

Skeletons in TQQQ closet: The closet is bursting at the seams.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and Sept 18/26 exp calls with strike $60 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 82.2%

Green today. Crazy past week, which is kind of old hat for TQQQ investors. CPI out on Wednesday. New Fed Chair. SpaceX seeing a deluge of FUD and exuberance.  

Current Value of TQQQ War Chest: Hitting pause, at $7.4m. That compares with $2.9m 2025, $1.8m 2024 and $358k 2023. The buffering effect of my TQQQ puts and cash hoard is evident.  

TQQQ shares: Total shares now 72810. Cost basis $27.82/share. Current market value of TQQQ shares $5.7m.

TQQQ long (protective) puts: Rolled my puts to $70 strike June 1/26. Insane strike price. 726 total contracts, Jan/27 exp.  Will roll these out to Jan/28 exp later this month.      

Cash Hoard: Currently approx $806k. I closed out my RKLB side quest, so my cash hoard saw badly needed replenishment. I was up massively when RKLB touched $150, but I sold it all after the fall from peak, at around $118. Felt like shit, even though I 5x'd my initial RKLB investment. Glad to put that speculative chapter in the rearview. The massive 2 month TQQQ spike almost had me out of cash because of the constant rolling of the long puts up in strike. If that happens again, and I do run out of cash, I will have to sell TQQQ shares to finance my put management. Cash hoard will take a beating later this month when I roll the long puts to Jan/28 exp. It must be done.   

QQQ short puts: My patience paid off and during Friday's blood bath I was able to open new puts at $670 and $630 strike for excellent premium. Currently short $670 strike, June 26/26 exp (50 contracts) and $630 strike, July 2/26 exp (50 contracts). If we move further downward, I’ll open 50 more $630 strike contracts.  Aiming for 50/100 contracts $670 and $630 strike.

TQQQ CCs: Utter disaster, although Friday's massacre helped a bit. Staying patient.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $198k.  TQQQ long puts book value $762k, so I’m in a large deficit of around $564k. Embrace the grind.  

Skeletons in TQQQ closet: The skeletons continue to loom. Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and June 18/26 exp calls with strike $57 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 72.4%

Stupidly bought in premarket.  Crazy week, which seems to be the norm as of late.  Hard to know how this exuberance will shake out leading up to and beyond the SpaceX ipo.  

Current Value of TQQQ War Chest: Still climbing, currently $7.4m. That compares with $2.8m 2025, $1.75m 2024 and $358k 2023.   

TQQQ shares: Smallest weekly buy ever in terms of shares bought. Current market value of TQQQ shares $6.2m.

TQQQ long (protective) puts: Rolled my puts to $65 strike.  Topped up the contracts to 726 total contracts, Jan/27 exp.  Have GTC order in to roll up to $70 strike. Looking back, I’ve progressively rolled my protection up from $20 strike, starting back in Feb/24.  Wow.  Will pay dearly to roll all these out to Jan/28 exp later this month, but it must be done.      

Cash Hoard: Continues to suffer.  Currently approx $597k.  Will see some replenishment when my RKLB side quest comes to a close, but hard to know exactly how much.  

QQQ short puts: Still selling less than usual.  Just 25 contracts short, June 18/26 exp $650 strike.  If we get a pullback, I’ll open some new contracts.  Aiming for 50/100 contracts $665 and $630 strike.

TQQQ CCs: Utter disaster.  Just rolled from June 5/26 exp to June 18/26 exp for approx $0.18/contract. Staying patient. My Jan/27 exp CCs continue to go deeper ITM.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $221k.  TQQQ long puts book value $690k, so I’m in a deficit of around $469k. Big deficit to chip away against, but I’m embracing the grind.  

Skeletons in TQQQ closet: The skeletons have grotesquely enlarged and the closet is bursting at the seams.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and June 18/26 exp calls with strike $57 (320 contracts).   

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 85.9%

Wow.

Current Value of TQQQ War Chest: Now at $7.04m. 3 weeks to go from $5m to $6m and another 3 weeks to go from $6m to $7m. War Chest same date 2025 $2.79m, 2024 $1.78m, and 2023 $357k.    

TQQQ shares - Buying $9k/week. Current market value of TQQQ shares $5.82m.

TQQQ long (protective) puts - Rolled my puts up to $65 last Friday and add a few more contracts. Holding 725 contracts, Jan/27 exp.  Will roll up to $70 strike if TQQQ somehow hits the mid-$80s.

Cash Hoard: Taking an absolute beating, as expected. I added a new column to the spreadsheet. Since I started this TQQQ investment, I've added $1.918m of outside cash (income from job), so around $600k/year. I included the 'outside cash added' as a new line on the graph that compares TQQQ with QQQ. I'm still holding my RKLB calls, so my cash hoard will might be replenished when I sell off that risky bet.  

QQQ short puts - Still only selling 25 contracts, $650 strike, rolled to June 12/26 exp. Will sell more if this rally takes a breather.

TQQQ CCs - *awkward silence*......what a disaster. Rolled my 320 contracts from May 29/26 to June 5/26 exp for grand total of $0.07/share.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $215k.  Big drop because of all the TQQQ long put rolling I’ve done. TQQQ long puts book value $688k, so I’m in a sizable deficit of around $470k.  Going to be hard to chip away at this deficit since my CCs are completely fucked and I'm only selling a tiny amount of QQQ puts, but we will see.

Skeletons in TQQQ closet: Skeletons getting very nervous. Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and June 5/26 exp calls with strike $57 exp (320 contracts).  Staying patient, but definitely anxious.  

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 81.2%

Small breather taking place over the last week. The torrid pace couldn't last, but this is hardly a 'dip'. Inflation, middle east, new Fed chair, Starship, SpaceX prospectus, NVDA earnings. Exciting week ahead, as usual.

Current Value of TQQQ War Chest: $6.68m. That compares with $2.79m 2025, $1.75m 2024 and $358k 2023.    

TQQQ shares - 72,460 shares, market value $5.53m, book value $1.99m. Will buy around $9k per week moving forward (up from historical $7-8k), until QQQ drops below 50d SMA.

TQQQ long (protective) puts - 723 contracts at $60 strike, Jan 17/27 exp. Will roll to $65 puts if TQQQ touches the $80s.     

Cash Hoard: Rebuilding. Currently $670k or so. 

QQQ short puts - Opened just 25 contracts, $650 strike, May 29/26 exp. Will open more if/when TQQQ falls.

TQQQ CCs - These are still deep ITM. See below. Staying patient.

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $330k. TQQQ long puts book value $680k, so I’m in a deficit of around $350k.  Going to be hard to chip away at this deficit since I’m selling only a tiny amount of short QQQ puts and my CCs are completely fucked.

Skeletons in TQQQ closet: Due to mismanagement, I am trapped with previously sold TQQQ CCs.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and May 29/26 exp with strike $57 exp (320 contracts).  For the latter, will roll this Friday or next Monday, hopefully up in strike. Yes, these CCs cap my TQQQ upside so if I were to walk away right now, I'd have to buy them all back at a huge loss. No plans to walk though. Staying patient.

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 74.9%

Verticality.  Unprecedented blistering gains.  23 of the last 29 trading days green.  Gain posts littering the TQQQ sub.  9sig 100% rule very close to kicking in.  Anyone saying they ‘expected this’ is a straight up liar.

Current Value of TQQQ War Chest: An astonishing $6.78m. That compares with $2.71m 2025, $1.65m 2024 and $281k 2023.   

TQQQ shares - Tiny accumulation this week because jfc come on.  Current market value of TQQQ shares $5.52m.

TQQQ long (protective) puts - Rolled my puts up to $55 and then $60 strike on Friday, 722 contracts, Jan/27 exp.  The $60 strikes should lock in my War Chest to a floor of close to $5m no matter what happens.  Will roll to $65 puts if we touch the $80s.     

Cash Hoard: Has fallen precipitously as I pour $ into my long TQQQ puts.  That is fine with me.  Currently $660k or so.  I recently took a gamble and martingaled around $120k into RKLB options prior to earnings.  Sold enough to cover my initial investment and now sitting on $400k+ profits.  Will add some of that to my cash hoard.  Was risky but just profits now. Will probably sell to close after Starship 12 launch and SpaceX ipo hype train builds. I will look to roll my long TQQQ puts to Jan/28 exp in June sometime, so further cash hoard beatings lie ahead.  

QQQ short puts - On Friday, I couldn’t bring myself to roll these given the TQQQ insane rally.  Closed them all out.  QQQ short put all-time profits at $772k.  If we get a pullback, I’ll open some new contracts but just couldn’t pull the trigger last Friday.

TQQQ CCs - Whew, lad.  These have blown up in my face. Not time to panic at this point, but damn they are deep ITM.  So much for my RSI strategy.  If TQQQ gets over $100, my confidence that I’ll be able to escape my CC prison will diminish significantly.  Still, as long as I’m rolling up my long TQQQ puts (which I am), then idgaf, I’ll just stay patient.  Getting pretty good at it now.  

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $327k.  Big drop because of all the TQQQ long put rolling I’ve done. TQQQ long puts book value $680k, so I’m in a deficit of around $353k.  Going to be hard to chip away at this deficit since I’ve not sold any short QQQ puts and my CCs are completely fucked, but we will see.

Skeletons in TQQQ closet: Due to mismanagement, I am badly trapped with previously sold CCs.  Currently short Jan/27 exp calls with strikes at $50 (200 contracts), $60 (80 contracts), $65 (120 contracts) and May 15/26 calls with strike $57 exp (320 contracts).  Will roll the $57 strike out to June 12/26 exp sometime today and stay patient.  

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 85.7%

What an absolute historic month we just closed out. Congratulations to all those on the TQQQ train. Heck, the merriment has been so intense, let's give some good tidings to the bears as well 😂😂

Current Value of TQQQ War Chest: $6.16m.  It took 7 months for the WC to climb from 4m to 5m, and only 3 weeks to go from 5m to 6m. Utterly insane pace. It can't last, but what a ride thus far.

TQQQ shares - Now that QQQ is above 200d, buying $8-9k/weekly.  Current market value of TQQQ shares $4.73m

TQQQ long (protective) puts - Currently holding 722 contracts, $50 strike, Jan/27 exp.  Will look for a $55 strike if TQQQ somehow creeps into the $70s.      

Cash Hoard: Currently 915k. Will take a beating if/when I roll long TQQQ puts up to $55 strike or roll the exp out to Jan/28 in June sometime, so cash hoard beatings lie ahead.  

QQQ short puts - Rolled strikes up again to keep pace with the blistering QQQ rally.  50 contracts at $600 and 100 contracts at $570. Will aggressively defend whenever strikes are tested. 

TQQQ CCs - At 3 DTE, I rolled 320 contracts of ITM $56 strikes up a whole dollar 😂 to $57 strike, 17 DTE. Will roll again at 3 DTE. Staying patient.   

Total P/L on options (QQQ short puts + TQQQ CCs - TQQQ long puts): Currently around $454k.  Long put book value approx $557k.  So chipping away at the deficit of 103k.

HOW WILL I MANAGE MY ITM TQQQ CCs?

I will stay patient. Since I began in Feb/23, TQQQ has dropped >25% at least 6 separate times. My lowest CC strike is $50. $50/0.75 is approx $67. Even if TQQQ gets into the $80s on this crazy run, possibly fueled by SpaceX ipo hype, odds are still in my favor that I will be able to close the CCs out for pennies. Just need to stay patient. My long TQQQ puts are where the true value lies, so my focus is on that.

TL;DR - have been running a TQQQ dynamic collar plus EDCA plus cash hedge since Feb/23:

Cumulative running CAGR (XIRR method) of my TQQQ investment since Feb/23: 69.4%