Author is considering buying QQQ puts because QQQ may crash from the 50 SMA like it did on Friday.
Unpriced research observations (excluded from Calls and Returns):
QQQ — SHORT The author sees QQQ at a technical decision point near its 50-day simple moving average. He leans bearish because of Friday's crash and says he may buy puts, expecting a similar downward move. Returns on the puts would track QQQ to the downside. ambiguous_option_contract
QQQ is either going to break out here over the 50 SMA or it's going to crash back down like it did on Friday. I might go a bit ghey and get some puts