Today's market action has all the markings of a massive move lower in the making. Our option vehicle of choice has been SQQQ calls, simple, leveraged and now into the last week of January expiration, so new capital should be allocated to at least February 21st expiration. As of mid-day Friday, here are the two SQQQ positions we have been recommending since mid-December. SQQQ Premium Service Calls Additional Short Ideas IWM March Puts - 70 days to expiration IWM Daily As of mid-session Friday, IWM is down 2.80%, compared to SPY down 1.80% and QQQ down 2.00%. IWM has the potential to drop to $200-180 in the weeks ahead, with an outside chance at $150, taking the Mar 21st $200P up 3X to 5X to 10X depending on how quickly the indicated impulse wave unfolds.
