We hold two May 55 puts with a cost basis that has been reduced by partial-profit taking to 1.20. Since I have no tolerance for absorbing even a slight loss on option trades, especially put options, I’ll suggest tethering the two that we own to a 1.28 stop-loss.  That’s a tick beneath last Thursday’s low, so you can infer that we are using a structural support to tell us when to bail out.  I’ve included a Tradestation chart of the May 55 put option.  The option exchanges’ new symbols are so crazy-looking that I haven’t bothered yet to find out how they arrived at TBJ1005622P55 to designate  TGT May 55 puts. _______ UPDATE (Apr 13, 3:39 p.m. EST):  We exited the remainder of our position on the stop-loss for a small theoretical gain.