Alon Rosin's PowerShares QQQ Trade

Alon Rosin of Oppenheimer & Co. spoke on Bloomberg Markets about a bearish options strategy in PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ: QQQ).

He thinks that there might be more room on the downside in the name and he wants to buy the August 134/126 put spread for $1.25. The trade breaks even at $132.75 or 4.65 percent below the current stock price. It can maximally make a profit of $6.75.