I went near the money a week ago at $1.50 for the March 125 put. Now i'm in the money, but not a lot of premium....yet. When the DOW breaks that 12,450 mark, look out below. We'll test 12,375, and after that 12,150. Tell me what catalysts are left for buyers?
OK, you were wrong, i was wrong. Now let's start all over.
When i brought up the subject, i found it interesting that there was hardly any premium for the puts, but the calls had a decent time premium. Now today i see it's the opposite. In other words, some big fellas are betting on a decline from this level (high 12,700's).