Well, folks, it’s day 3,830 of the captured market, and the bulls are running roughshod. Not all is lost, however. I am taking advantage of the strength and have gobbled up a bunch of June $205 puts on the IWM based on the one-two punch of (i) a gap sealing up (ii) a major Fibonacci retracement level.
Here’s the longer view (the IWM is above, and below is the $RUT itself).
In the it took me to type this post, the puts are up 8.2%, which is a much-needed salve to the burn wounds suffered on other positions earlier today!
