DIA – Diamonds (Last:92.56)

We were looking to get short at 95.61, but let’s lower our sights for now to a lesser Hidden Pivot at 93.83. Buy two September 93 puts (DAVUO), which should be trading for around 2.40. You can use a limit order at that price if you’d prefer to park the order with your broker, but be sure to stop yourself out if the underlying stock touches 93.01. _____ UPDATE (12:25 p.m. EDT):  The day’s obligatory short-squeeze, catalyzed by “news” of lower-than-“expected” new jobless claims, produced a gap up to 93.35 on the opening — not quite enough to fill our short offer.  Cancel the order for now, even though the target remains theoretically viable.