Shall I board the train?

Everyone is writing that this sell-off is one day kinda story. Maybe, maybe not. I am not making any opinion about the direction, let Mr Market open and I shall greet him in whichever direction he is willing to go.

All my 4 portfolio currently are in positive delta which means if the market goes-up, good but if otherwise, I need to be ready for adjusting some of those. Due to heavy sell-off, the underlying for both IWM and DIA has penetrated the short puts and during the day I shall have to make some tough choices if the it falls further.

For some bottom fishing ideas I am looking for some sold stocks that were beaten down yesterday, only due to heavy sell-off but not really due to any other reason. Couple of picks that come to my mind are PG, DIS, KO, NKE, and SHLD. Other big absolute dollar losers that I have eye on are exchanges i.e. EXQ, CME, ICE, BOT and NMX. Two others are POT and PCU. Whatever I chose to play, I at least need to wait for 30mins to let the market decide which direction it wants to go.

I shall try updating it as soon as I open or close a trade, so make sure to check out OptionPundit at some intervals and Stay tuned,

Profitabel trading, OptionPundit






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