Intraday Brief·QQQ·April 23, 2026

QQQ PUT +$4.37 (+67F) from 11:40 to 2:25 — volatility expanded

You shorted QQQ PUT at $656.07 after the bands started widening, and took $651.70 by 2:25pm for +$4.37 (+67F) as price slid from above the opening range. Sellers got confirmed quickly with bearish momentum after 11:45am, plus bearish option flow that flipped to puts by 1:00pm, while volume stayed anchored against you with no matching bullish support below.

By Z3Gamma

QQQ put entry hit at $656.07 at 11:40am and closed at $651.70 at 2:25pm for +$4.37, with a 2 hour 45 minute hold and a solid +$1.59 per hour. Z3 flashed bearish fast at 11:45am, just one bar after entry, then stayed heavy with 9 favorable bars and a peak read of -7.59, which told you downside momentum was real. Options flow started call-heavy, then flipped put-dominant at 1:00pm and stayed bearish into the exit, while the only real gamma reference was a distant $606 put wall that left room for the move to travel. Momentum confirmed right away with sellers taking control one bar in, volatility expanded by 11:50am, and price was fading from above the opening range high under a fresh bearish volume anchor with no bullish support line underneath.

Verdict: this was a good short that worked, but it was a little messy since the trade left a lot on the table versus the +$10.50 best excursion, even if the low-theta environment made the hold worth it.

April 23, 2026 · Entry 11:40am → Exit 2:25pm · +$4.37 · Z3Gamma
Trade Data
INITIAL E1
KYROPUT [EXEC] entered at 11:40am at $656.07 and exited at 2:25pm at $651.70. Total profit +$4.37 (+67.0F). MFE +$10.50. MAE was -$0.43. Duration: 2h 45m. Profit-per-hour: +$1.59/hr — acceptable efficiency for duration held.
COMMANDERBear MIDAS anchor at 11:20am. 4 bars before entry. anchored in the above IB high. no bull MIDAS below. 3 knights.
VOLATILITYgreen bishop (BBW expansion) and purple bishop (STD expansion) both active at 11:50 am (2 bars after entry) — crown bishop. Bands are widening.
KINGDOMKijun crossed below at 12:00 pm, 4 bars after E1. Peak MFE: 136F. Kijun ended at -66F (price above).
PROFILEE1 fired in the above IB high. Price has moved to the below IB low. At entry: POC (-80.0F) was above entry, VPOC (-80.0F) was above entry. Buying tail 2 TPOs (-140F–-120F). Price is above it — rejection holding.
Z3Z3 bearish cape activated at 11:45 am, 1 bar after E1. 9 favorable bars, 11 total cape bars during the trade. Peak Z3: -7.59.
GEXCall wall $0.00, put wall $606.00.
OPTION FLOWAt E1: Call dominant (crossed call at 11:00 AM), eye active since 11:15 AM. Flipped to Put at 01:00 PM during the trade — eye active at exit.
BAND THETAAIR — bands expanding at entry (width+72.6°). Theta low.
DMIDMI compressed within 7 bars of entry (2 compression bars). DI- won at 11:45 am, 1 bar after entry.
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