As the market winds down, there is little relative change. I am a bit surprised as I expected earnings to push the market a bit but given the mix in economic data and Fed concerns news out of the financials was not enough to really create change in the market. From a position standpoint, IWM and HD are relatively unchanged and still above their 7 day moving averages. RIG took a leap this morning as it shot up over $1.50 from its morning lows. I continue to hold the puts that expire on Friday. With the strike price at $55, value will surge into the options on any selling pressure but that same value will leap right back out as the stock rallies. I still expect selling pressure to come in.
Have a great evening,