Buy IWM via selling Apr 77 puts @83.8. This is the second adjustment of the day to my Russell 2000 ETF position. I choose 77 because there is minor support at the recent low of 78. I am tempted to use the header “Zombie Market,” as the bull move continues to lurch forward. At some point there will be a correction, even a bear market move, but for now the undead bull marches forward.
There are fundamental analysts such as John Hussman (CSMonitor link), seeing the market as dangerously overvalued. Trading options based on those kind of factors tends to be a losers game, because fundamentals are not a good tool to use for short term timing. I'm not saying Hussman is wrong, but with options, time can be just as important as price.
Long APC AXP IBM IWM SLV SPY XRT
net long GLD, IWM