November 19th

A quiet day at the office, only 41 points of range in the SP futures.

I like the volume as it step up after 3pm, that is encouraging for the delta long side of the portfolio.
I rather would liked to have seen a big volume spike around the days low as a sign of capitulation.

Try to find some conformation for yourself that the VIX trend for the coming period is down. If you can confirm that conclusion, then consider selling some puts and put spreads. Right here and now. The premium is rich and if you do it skillfully the risk is reduced.

As said before I like the PUT DIA Dec 65 for $1.00. The market will have to go down other 25% to get that put in the money. Do it with a moderate size. The plan is if we break todays low to buy some ATM Put Dia  to compensate for the naked shorts.