This junk-bond vehicle begs to be shorted, but how?  It would take one last push to get it to the 96.09 target shown, but there are reasons to doubt it will ever get there. Since hope springs eternal, we’ll simply have to give it more time.  It will be difficult in any case to find bearish leverage in butterfly spreads, as we frequently do, because put and call options other than near-the-moneys barely trade.  I’ve set a screen alert at 95.00 to wake me if the opportunity should ripen. _______ UPDATE (April 8): This vehicle has dropped into an impulsively bearish pattern, so we’ll put aside our effort to short a spike high.