DIA – Diamonds (Last:90.99)

The 91.96 rally target given here yesterday still looks like a good place to try shorting, so we’ll use the same game plan, bidding for two September 90 puts (DAVUL), stop 92.12. They should be selling for around 2.15 if you want to use a limit order, but pull the bid if DIA exceeds the target.  I have also plotted a hypothetical buying strategy that would apply if the Diamonds zig-zag their way down to a midpoint support early in Wednesday’s session.