I actually considered selling some AUG 1125 puts at the close. (Un)fortunately I don't have the stomache for two weeks of torture. Will look to sell some wide verticals if we have an early sell-off tomorrow.
I think you are picking bottoms. You obviously know where the support is. Just wait until the bottom is put in and some indicators start pointing up. Then you can lump on 10lots at the "right" spot with a tightish stop instead of 1 at the dead bottom with 2 - 3 - 4 somewhere in the curve on the way up.
04 print from the r70 long the jobs report is a major wildcard won't take much to ignite a squeeze to 1230-40
Actually, if the VIX rockets further, I'll do what I don't normally do and sell a SPY straddle or two - being ready to buy wings as conditions warrant. Trading within the context, I don't see this bear market as a 2009 bottom; but more like a 2010 bottom and bottom range.
And may I add, you were full disclosure - totally honest. You didn't run and hide or try to fudge anything once trades were made.
Those are kind words JSHINV. I'm happy with the outcome of your trades for today. Best of luck to you tomorrow also.
But I should probably qualify as to calling tops or bottoms or sustained long term moves in any direction, I don't know any more than anyone else. I look at the long term as a backdrop; but I live in the intermediate and primarily the short term.