Since the introduction of options on PowerShares QQQ exchange-tradedrnfunds, we have faced a variety of market conditions. In nearly all cases, an option strategy overlay produced higher returns with lower risk. Here's how It works.rnThe credit crisis has rekindled interest in collars and protective strategies in general, and for good reason. In 2008-09, the PowerShares QQQ exchange-traded fund (ETF) experienced a drawdown of roughly 50% from peak to trough. Even diversification, which many rely on to be a strong guard against portfolio-wide losses, didn't protect as expected.
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