Friday's market action is dangerously close to a precursor for a Black Monday event triggered by geopolitical uncertainty. The closer the market gets to key level breakdowns the more important it is to have at least a partial hedge via stock index puts, which is the case currently in both the Premium and PRO Services. Significant profits in GLD and BITO calls adds a cushion to our trading portfolio going forward, but a weak close going into the weekend will trigger another tranche of SPY puts for underweighted portfolios as follows: On a SPY close below SPY 510.00 add May or Jun SPY puts (see option tables below). SPECIAL ALERT: As this is being written - two hours before Friday's close - SPY has just broken below its key level @ 510, but quickly popped back above. Watch closely last hour. SPY Current Premium Open Positions The Premium Option Portfolio currently holds SPY (Jun expiration) and IWM (May expiration) puts: If SPY closes below 510 and additional puts are needed, here are what I consider the best looking options for May and/or Jun: SPY May Puts SPY Jun Puts DJIA Noteworthy: First DJI Intermediate Term Sell Signal since August 2023 - SPY is not far behind.
