With yesterday’s selloff, bullish option plays for October are probably dead, although it remains to be seen whether Shutdown Blues will be with us for long enough to kill November calls as well. Although I expect the broad averages to go continue lower in the weeks ahead as the political stalemate persists, I’m wary of buying puts at the inflated premiums they currently command. Shorting into minor rallies will be an alternative to consider, but our timing would have to be very good to turn such plays into riskless vertical spreads.