Back on January 19th, when the Dow closed above 10,700, I posted this on the Short Screen message boards,
Had limit orders in for puts on two companies I found on Short Screen’s screener. One idea behind my Short Screen put basket is that when the market corrects, I expect financially-distressed stocks will fall further and faster than the broader market.
A few minutes before the close today, my limit orders still hadn’t filled, but with the Dow hitting highs I felt it was an opportune time to short something. So I picked up a few of the 87 strike JUN 10 puts on the Dow-tracking ETF DIA.
Those DIA puts, which I bought for $0.95, didn’t trade today, but show a bid price now of $1.82.
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