If the ‘mystery target’ in ES fails to contain the bulls, there is another in DIA that should make for an equally fetching short…eventually.  It implies that a 400-point rally lies ahead in the DJIA, and although that may sound fanciful, we’ve learned by now to give the mindless herd, especially when stampeding to cover shorts, the benefit of the doubt. Check out the June 12 DIA post in the archive for the exact number and a compelling chart. _______ UPDATE (July 1, 10:38 a.m. ET): As part of a straddle (vs. AMZN calls), we hold two 166-strike puts expiring in three days, but I’ll suggest writing them off, along with the calls. The loss would be $268. _______ UPDATE (July 1, 11:14 p.m. EDT): We tested our luck with the purchase of some expiring puts at the 196 strike for 0.38, but got stopped out at 0.29 for a very small loss after having ridden them no higher than 0.45.  This is a less stressful play than shorting index futures, so expect more of it in the future. The chat room is the place to hang out for real-time guidance.