We’re attempting to short eight November (22) 152 puts for 1.50 against eight November 155 puts we already hold for 1.34. The former traded no higher than 0.64 on Friday before DIA reversed and move sharply higher into the close, driven by short-squeeze dynamics. Stand pat for now, maintaining the 1.09 stop-loss on the puts. _______ UPDATE (11:05 a.m. EDT): We were stopped out when the puts traded for 1.08, the low of the day. I had not intended this, to say the least — especially since I was certain that Monday would begin with a failed, bull-trap rally. We’ll keep trying, since I remain firmly convinced that the stock market is at, or very near, a bull market top. Had I known DaBoyz would shake down the December 155 puts to 1.08 on the opening bar, I’d have told you to buy 50 more of them at that price.
