QQQ/IWM Puts

I think we'll see some intraday volatility to the upside in both, but they seem to be in worse shape (not just price, but underlying trade) than the DIA/SPY.

Right now I'm thinking I'd like to keep them in place a bit longer, specifically until the SPY/DIA really break down hard, at that point I'd prefer to take the profits (which they are already at 40+ and 25+% profits from yesterday) and exchange them for leveraged Inverse/short ETFs like SQQQ (although that's already an open long position) and URTY. At the same time I'd like to be building SPY leveraged ETF short positions on any strength in this area.

Again the reason being, I think puts are going to be difficult to manage unless you can be at the computer nearly every minute, counter trend rallies/bounces/corrections in a move down are very sharp and a put can go from a profit to a loss real quick, the ETFs will have less draw down and be easier to manage over a longer period.