I'll still be holding my puts after this anticipated morning local low. I don't believe we'll see more than a .382 re-trace of the drop since Monday, which would be around NDX 990-993, depending on where this drop stops (970-972 is my ideal range for a local low. I want to see that 973 pivot low taken out).
With options, it's not usually very profitable to try to re-position on such a small bounce.
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