Just an FYI, I am targeting 52.80 to exit my RIG puts this morning. The market is set to open slightly lower on the heals of some lackluster economic data. Tomorrow begins a round of important earnings statements from many companies in the financial group. I suspect due to the upcoming earnings, the market is not going to hold on to major losses or gains today. That said, many stocks will start to trade below their 7 day moving averages this morning. If they hold, the risk factor for the bulls rises dramatically.
Have a great day!