John Hood ARK Innovation ETF ARKK-ARCA DON'T BUY Jun 29, 2023

options There's call buying today of 5,000 of the April 29 expiring $61 calls. There's a a complicated spread at work, but essentially buyers are looking for something bullish to happen. These options cost $2.50.

options Traders are aggressively buying puts here. As the price has gone down, puts have rolled down with them. Huge options here, like 30,000 at a clip even after hitting 52-week lows.

options He trimmed his ARKK and ARKF yesterday when they hit 52-week lows. Today, they're rising. ARKF was a great trade, though he's holding onto the ARKK because he has more time; the put-buying had nailed the short-term pulling back.

What to do if you're down on this investment? Very aggressive going after the innovators. Everyone should have the tools to at least weather bear markets, if not profit. To protect yourself in ARKK, you can buy the PSQ, which is the inverse of the QQQ. What he does is use equity indices to protect his long stocks. Yes, this year he's down 7%. But this is very manageable compared to the NASDAQ that's down 33%. ARKK's down more than that.