Trade Alert: Nibbling some longs, trimming more puts

Okay, I’m going to take advantage of this panicky sell-off action to nibble a few of my favorite longs here and to trim just another 5% or so of my puts.

I’m nibbling a 1/3-sized tranche of Verizon.

I’m nibbling a smaller 1/5-sized tranche of Intel.

With the Nasdaq down nearly 4% on the day and the DJIA -700 points, I’m also selling about 5% more of my puts, leaving with me with just over half of the puts I’d owned at the top.