The index charts were screaming "buy!!" to me. That doesn't mean I'm dumping my gazillion equity puts, which I think have reasons of their own to fall. I have, however, bought into a largish call option on IWM this morning. Simply stated, when I look at the chart of the S&P 500 below, the technicals for a bounce are too compelling. I eagerly await the day when indexes are a "steal" to short again, but for now, I'm going to play this one long position.
I am selling selective puts right now, including RIMM, below (for a nice 80% profit over just a few days).
