A rally target at 57.96 remains valid, so we’ll look to short it by buying four March 57 puts. You can determine their fair price by monitoring the bid/asked spread as the QQQs closely approach the target.  A stop-loss at 58.12 is still advised. ______ UPDATE (9:36 a.m. EST): We bought the puts for 0.62.  Stick to the 58.12 stop-loss for now.  ________ FURTHER UPDATE (2:05 p.m. EST): Sell for 0.80 or better two of the four puts acquired earlier this morning for 0.62.  We’ll carry the two that remain using 0.44 as our new cost basis.