The Dow was down nearly 300 points when this session began, on its way considerably lower, so there was plenty to do. Mostly, we looked at puts and calls: directional bets, vertical spreads and even butterflies. That last tactic was considered with the goal of leveraging a further, potential drop of a thousand points in the Dow over a two-week period. The option strategies on view are relatively sophisticated, but they are explained in a way that most subscribers will be able to follow as long as they understand the basics. You may be surprised at how accurate the intraday forecasts proffered during the class worked out.
