I am tracking two positions — one bullish, the other bearish:  1) long two May 18 248 calls for 0.85; and 2) short 100 shares from 244.37.  The short position, initiated on 200 shares in the opening minutes of the session, is showing a theoretical gain of $284. It includes a $121 profit on 100 shares covered at 243.16, the worst price reported by a subscriber who did the trade. For Tuesday, bid 240.30 to cover the remaining 100 shares. If DIA gets within 0.70 of that number, implement a ‘dynamic’ trailing stop to preserve a risk:reward ratio of 1:3.  That means that if DIA falls to 240.96, your trailing stop would shrink to 22 cents, or a third of what you stand to gain if you are able to cover the remaining round-lot short at 240.30.  If DIA opens higher and keeps going, use a stop-loss at 242.45.  For those who are long the 248 calls, do nothing further for now. Our goal is to leg into a vertical ratio spread by shorting a 245 call if and when DIA turns strong.