12:35pm (EST)
We have decided to add a December option trade as we start nibbling on a few positions to build on for a possible trend change, at least over the short-term.
The NEW TRADE we are recommending has been a name we have played frequently in recent months and we believe shares could make a quick trip back below $45. They are north of $47 now and we are looking for a quick 50%-100% return on our put options.
Subscribers, check the Members Area for our latest recommendation and we will be back in the morning with a full update.