I was just trading short into the impulse from last thur/fri, and got out eod yesterday for a nice move. Like you, I don't want to put with options until I am more sure of the trend (that could be anytime). I am mostly concentrating on BRCM, and probably NVDA if it gets a good enough bounce. I am looking at some Feb puts for these, probably next week is a good time.
I haven't done OEX before, but will take a look, whats your outlook there?
imho, Jerome