I like your instincts, similar to mine, except I cant watch the market during day. I should just hire you to be my broker! Last Friday morning I was ready to panic and go double short to hedge my 401K which I cant rebalance cause it may be +/- 10% next day. Instead I put limit order on Travelers Ins, got in at 30 and sold at 37 at end of close on Monday, happy with 20%+ in one day. Was thinking of putting buy order last night but didnt do it. Had I seen VIX go to 80 I would have bought probably AAPL or MSFT. Since the VIX reached record but the SP500 didn’t go below low from Fri, I think we have a short term rally here.
Check out AAPL April 09 45 puts at $3. Sell the put, worst case buy AAPL at 45?
I like BP’s 8% yield too, but read that they have big pension shortfall.
