Futures down almost 2% - Monday doesn't look so good

• Futures down almost 2%
  
• Monday, August 24 will be another big down day on the markets.

 

vix to 35 plus!

 

This is what I feared (and I was bearish, lol)...the giant air pocket / vacuum down to the Oct 2014 lows.

 

maybe we will find out how much the true inflationary fed premium was baked in ..

 

nq futures down 3%

i'm buying something at the open

 

whats your reasoning behind that?

 

cheaper than it was 3 days ago

 

The thing is in a free fall.. There will be plenty of time to go long again... Definitely trying to catch a falling knife..

 

Options will be VERY EXPENSIVE this week. I would like to buy some QQQ weekly calls on Tuesday or Wednesday, but I would need a large bounce (much larger than usual) for them to payoff.

1-strike OTM ($0.50 otm) QQQ weekly calls are usually less than $0.40 at Monday's close - my guess they will be well over $1.00 on Tuesday or Wednesday.

 

You aren't kidding OTM...I have some Sept/Oct call spreads that balanced out the put spreads and they were essentially worthless (over 2100x), in the last hour they have all turned green (from Friday close)...the IV is exploding.