The quite bearish target given in today’s DJIA tout has a close analog at 174.32 in this vehicle, which is optionable. Because stocks got hit especially hard on Friday, put options will be juicier than usual, but we may be able to pick up some bargains if DaBoyz attempt to hold stocks buoyant on the hoping in order to unload on widows, pensioners and sundry other rubes. The puts I have in mind would be the 175s that expire on May 1. They closed on an absurdly wide spread Friday, but we’ll need for them to come back into line if we are to consider buying them. ______ UPDATE: We did nothing, since DIA trampolined higher without correcting.
