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Also to alleviate the possibility of the stock market at large expanding and wiping out any gains form the QQQQ not doing as well you can sell puts on a broader

Also to alleviate the possibility of the stock market at large expanding and wiping out any gains form the QQQQ not doing as well you can sell puts on a broader index(like s&p) and then sell calls for the what you think will do poorly. For more info google stock picking options strategies.

fsk 12y ago
But with an unhedged option spread like that, his losses are unlimited. I.e., QQQQ continues to skyrocket while SPY tanks (or is flat). Naked put selling is very dangerous. (Well, his risk is limited to the strike, but that's a small consolation when the premium for selling the put is 5%-10% of that.)