S&P 1040 Broken; Pressing Index Shorts

As was outlined last week and again this morning; a break of 1040 on the S&P would have me pressing shorts to attempt a move to 1020. So we've moved into a moderate amount of SPY October Puts, 102s and 103s. Only using about 6% of our capital for this combo play due to news potential in next 24 hours. Unfortunately tomorrow's labor report is a market mover so I am not sure if these positions will be held overnight.

Simple game plan right for today - will keep these puts until any move back over approximately S&P 1041. Currently we're at 1037. If no "stop out" over S&P 1041 will have to think about what to do with them in the closing 30 minutes.

In retrospect it is very obvious that the Monday rally was the typical quarter end "mark up" rally that the SEC never ever (ever!) has time to question. Always a suspicious day in the 2-4 sessions before quarter end. No news, but a pleasant nearly 2% rally out of the blue blessed us. Now we are reversing that fakery. (not a real word)

EDIT 12:30 PM - huge war at S&P 1040; Larry Summers knows it's important to his cause. ;)