I am lucky that I happen to be traveling this week and had less exposure to the markets today. The exposure I did have I got stopped out of. We broke 1670 and for me that means risk off. Although it seems enticing to buy the dip, I wouldn’t be in such a hurry this time. I still think we could have some downside upon us. I imagine a good bounce will present itself over the next couple days, but be weary that it could be sold into until Washington can come up with some sort of agreement. The best scenario in my opinion would have been a gap down that could be bought for at least a bounce, but with the Yellen news that may not work out so nicely.
SPY – very little change to options. You would think more puts would have been bought and held, but I guess given our 2013 environment people are afraid to hold puts.
AAPL – I was impressed with how AAPL held in there amidst the high beta sell-off. I think it bodes well for the stock going forward. Of course there still is that 500 battle with calls. So maybe just a little bounce.
Good luck out there!!