This has been an interesting week.
This week, we fell 270, and then ran up 276, and are now down 340.
I’m still shocked I have hair.
On October 6, I issued a buy recommendation on the DIA December 170 put. Hearing that some of you bought up to $5, I tracked that in the portfolio with a $5 entry price.
Then those DIA December put options pulled under our recommended “under $4.50” target to $4.40. I heard more of you waited and bought in on that dip on the 276-point move higher on the Dow.
Today, as the Dow sinks on global economic reality, I’m recommending that you consider selling to close half of the DIA December 170 puts to secure some gains. Hold the second halves should the Dow break the 200-day moving average to the downside.
Hold all other open positions, as well.