Editors Note:

The markets embraced gridlock and celebrated with a monster short squeeze. The major indexes averaged over a 2% gain and the S&P returned to the October resistance high. ANY further gains are going to trigger even more short covering because this is where the bears loaded up on the initial October rebound. Anyone who has not yet covered may be doubling down here thinking the Wednesday rally was just a short squeeze and resistance will hold. If the S&P moved over 2,819 and the 100-day the next target is the October highs.

Current Portfolio

Stop Loss Updates

Check the graphic below for any new stop losses in bright yellow. We need to always be prepared for an unexpected decline.

Profit Targets

Check the graphic below for any profit stops in green. We need to always be prepared for a profit exit at resistance.

Current Position Changes

No Changes

If you are looking for a different type of option strategy, try these newsletters:

Credit spreads and naked puts = OptionWriter

Long term option investments = LEAPS Investor

3-6 month Option Trades = Ultimate Investor

Long and short equity trades = Premier Investor

Full updates on all plays on Wednesday and Saturday. Only closed plays are updated on other days.

BULLISH Play Updates

No Updates to Current Positions

BEARISH Play Updates

No Current Puts