DIA – Diamonds (Last:90.96)

There’s a Hidden Pivot at 91.96 we can short that is equivalent to the rally target given in today’s forecast for the cash Dow. Its provenance is shown in the chart (inset), and I’d be surprised if we didn’t get a tradable pullback.  Officially, we’ll buy two September 90 puts (DAVUL), stop 92.12, but you can change the order in any way that suits your style.  I estimate that the puts will be trading for around 2.15, and you can use that number with a limit order  to simplify things.  If you do, however, you’ll need to make sure that your bid is not executed with the underlying stock trading above 91.96.