Below is the Dow (DIA) chart I've been nursing all week, with two key levels that if broken would strongly suggest at least a test of the March 23rd low of Dow 18,218. The first level of 210.90 is already toast, leaving round number support at 200.00 (Dow 20,000) the last refuge of the retracement rally. The Premium Option Portfolio is already well short, including index puts in IWM and EEM. The IWM April $157P can be rolled down closer to current IWM price at $107, with May $100P (around $6.25) looking like a good bet for replacement.
