“Notably, QQQ set its all-time closing high of $182.82 on July 25 — which gives $182 some instant significance as a potential level of resistance to clear going forward. And from an options perspective, the 182 strike carries open interest of more than 60,000 contracts set to expire over the next month,” notes Schaeffer’s.
Year-to-date, investors have added $3.69 billion to QQQ.
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Tom Lydon’s clients own shares of QQQ, Apple, Facebook and Microsoft.