I was on the phone right now with the CEO of The Street and we had to hop off now that the DJIA is -1400. I’m writing a note to send out to subs now. Be cool. Maybe trim a couple puts or two.
This has gotten ugly quickly. Here’s what I’m doing. I’m trimming some of my puts that are now up big time, selling maybe 1/3 of them. I’ll probably put some puts back on that have lower strike prices than the ones I just sold if the market bounces short-term here.
Be cool. Be patient.