The Options Box

[RCKS]

Poet
Do you have play's in the index's here and now?
I am betting pretty heavy on down here, although I am quite nervous but today's gap up was close to forcing me out of my positions. I did not want to see new highs near term and thankfully we stayed below but I will take profits in the 1697 1282 area if we stall their.
I think we could get more run at new highs from there before we slide further.
I own QAV SB @.50 and I own DJV RR @.45/.50.
I also own QLGC and EMLX Puts and they are longer term positions QLC SG and UML SD, they are more expensive but I will give them room due to the volatility in the 2 stocks but if QLGC makes a new near term high I will bail because it could run to 57 or so pretty easily. I view QLGC as the leader of the 2 stocks even though EMLX has shown surprising strength here of late.
Good trading, steve