To The Moon

Friday, the financial markets experienced a challenging day. The $DJIA(.DJI)$ recorded its fourth consecutive day of declines, dropping 0.3% in a single session and accumulating a 1.9% loss for the week. The $S&P 500(.SPX)$ also declined by 0.2% on that day, bringing its weekly loss to 2.9%. The $NASDAQ(.IXIC)$ showed the most modest performance, with only a 0.1% decline on the day, but it suffered a significant 3.6% drop for the week. This session was marked by the impact of the recent Federal Reserve meeting, the United Auto Workers' strike, and concerns related to a potential government shutdown. SPX Gain $Splunk(SP

I could not believe my eyes when I came across the news article with the contentious title (see below). This is especially so in view that the strike is into its 10th day since it commenced on 15 Sep 2023. Before jumping into the subject proper, I thought it is fitting to have a summary of events leading up to the strike. The strike did not just happen out of the blue, truth be told. It dated back to year 2008 where the economic recession took its toll on the auto industry. The labour union supported the auto industry heads by signing away some of the concessions with the understanding that they would be reinstated when the industry recovers. The promise remained unfulfilled until 14 Sep 2023 when the contract expires. {Is it naive to expect corporate America to do the right thing? LOL!

The newly created ETF, $Defiance Nasdaq 100 Enhanced Options Income ETF(QQQY)$, is an innovative financial product that offers a unique investment strategy designed to provide enhanced income for investors. This actively managed exchange-traded fund aims to achieve consistent and outsized monthly yield distributions while also offering exposure to the performance of the $NASDAQ 100(NDX)$. QQQY's strategy is centered around the use of daily options with a zero-day-to-expiration (0DTE) approach. This approach involves selling in-the-money puts on a daily basis, taking advantage of rapid time decay in these options. This means that the options QQQY sells have very little time left until expiration, which can