As of this moment, the SPY calls are up 43% and the TNA ETF about 6% due to the surge to S&P 1162. Despite not being a huge amount of the portfolio, they are doing the trick - especially considering their shelf life has been 5-6 hours. I still believe 1170 is in the cards, for no good reason other than my Fibonacci reverse engineering analysis (linked to earlier today). If the market does not stall at 1170 and go back to fill the gaps in the chart, than Fibonacci retracement will be a failure this time around, and I will not have an idea of where the ultimate top of this move will be. But on the other hand, it was not a failure because that number of 1170 kept me from trying to bet against the market as I mistakingly did in spring 2009 when Bernanke QE1 smashed me to itty bitty pieces for 2 months. (long time readers will remember me betting against REITs, and casinos, and credit card companies, ho ho ho - what a chump). Like a silicon algorithm I too can adapt... just slowly and with chagrin. But with a tad more humor.
I'd love to see these
EDIT 3:59 PM: no squeeze into the close so I kept all TNA ETF and sold 1/3rd of the SPY calls to lock in about 40% profit, riding the other 2/3rds. Short of a 10 point S&P gap down tomorrow morning will exit with some form or profit.