Hedging

Letstrade - if you're "trading" the QQQs, why are you worrying about hedging? Just trade them. And since the QQQs can be shorted on a downtick, there's no reason to setup a hedged position (a retail trader bullet alternative) to help with shorting.

However, if you're taking longer term position trades in the QQQs, you can look at option hedges.
 
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