to [e-mail]: shorting QQQQ strangle

as a general rule, you should short strangle/straddle a week before OE. That is when theta loss is fastest.

I could not confidently tell where QQQQ will be by June OE. Current QQQQ behavior is similar to 2004/8/2 and 2005/3/29 by my reading. So worst case is that bottom is 1 month out for me. The drop during this period could be big.