Protection

[Grieve]

You should have waited until today It did get a little nervy there though... Nice trade / profit.

I did sell today (mid afternoon), but well off the highs. The range today alone was 2.25 to 5.80 - pretty crazy! 5.80 would have been a 123% gain... But I'm much happier with 4.10 than 2.25.

FYI rather then do a put or a short, look at TZA. TZA and TNA are the exact opposites. A call in TZA might be a better play then a put on TNA, but from a market perspective they are the same.

I'll take a look at that, thanks!

I'm also considering REALLY out of the money puts for the middle of next year. A lot of people are calling for armageddon (e.g. Dow 3000). I don't believe it, but if I can buy cheap protection I will.

For example...could buy a QQQ $40 June 2012 put for $1.52 ($152). If the Nasdaq ended up dropping 50% before then, it would be worth thousands. Maybe even a few $31 puts for $0.57 ($57)...