Take a look at the IWM, it looks like it is starting to repair some of the damage that started in 3C yesterday and was the reason for the puts, this is also why I thought closing them right now to be the best solution, it's really more about taking unnecessary risk off the table as I WOULD NOT enter the puts right now, yesterday when we did, yes, but now, no.
IWM 1 min looks to be starting to find support
IWM 2 min also shows the same
As does the 3 min, note the time when it was negative yesterday afternoon and how it looks this morning, this is why I couldn't keep Puts open.
The 5 min chart isn't there yet.
Interestingly or frustratingly, every average looks different, the SPY doesn't look as positive as the IWM, but it didn't see the same move down either. The DIA looks a bit more positive in most timeframes, at least from 1-5 min.
The Q's don't look positive in these timeframes at ALL!
That's the reason for the quick move this morning, you can also see what chaos the market is in and that's just the start of it, it really looks like a lot of people are going in all different directions, even different asset traders such as equities vs treasuries/bonds.
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