01 — SQQQ · COVERED CALLS

Best SQQQ covered calls setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

-3x daily leveraged Nasdaq-100 inverse ETF with structural decay and high contract volume.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD

ProShares UltraPro Short QQQ

Leveraged ETF

SQQQ

$41.83+21.6% / 30d

IV rank (1y)

47.2% · moderate

Option vol

35K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration

Probability of profit

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Top pick

$50 call · Dec 4

34 DAYS · 19.5% OTM · SELL TO OPEN

Credit

$234

Return

5.59%

PoP

70%

Strike	Expiration	Credit	Return ↓	PoP
$50 19.5% OTM	Nov 27 27 days	$179 $1.79 / share	4.28%	73%

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03 — Strategy

Covered Calls, plainly explained

Neutral-to-mildly bullish traders focused on steady premium collection.

P&L at expiration · $50 call · 34 DTE

Key numbers

Premium collected+$234

Max profit+$1,051

Breakeven$39.49

Capped above$50

Probability of profit70%

Days to expiration34

When this trade makes sense

Use when

✓You already own 100+ shares of the stock
✓You'd be fine selling at the strike price
✓You think the stock goes flat or slightly up
✓IV rank is elevated — premiums are rich

Avoid when

✕You think the stock is about to rip higher
✕You're attached to the shares (tax, conviction)
✕Earnings are inside the expiration window
✕Premiums are unusually low — nothing to collect

Read the full covered calls guide →

04 — By condition

Read by market condition

High Implied Volatility

Post-Earnings IV Crush

READ →

05 — RUN IT LIVE

See the highest chance of profit on SQQQ.

Alpha Hawk scans live chains and recommends setups based on current market conditions.

Analyze SQQQ free →