The VIX has barely budged in the first hour of trading today. 10:50AM VIX is 24.36, up from 24 yesterday.
The put/call is running high, of course, with the move down in the market on the employment number.
The spike in put/call from 3:30pm to 4:00pm yesterday was, in hindsight, put buying to hedge against future sales of stock. But what we are looking for is a sign that potential sellers are hedged with put options.
We have to use tight stop parameters because the market is falling and the news is grim in the headlines. Typically these provide windows of tremendous opportunity AND risk at the same time.
The DJIA is moving 100 pts every hour or so, so that is concerning and makes risk-management more difficult.
Stay tuned.
10:57AM 110.95 DIA (DJIA etf - "Diamonds")
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