Extremely Low Volume...

Trading SPY puts has recently become my favourite trade, but volume dried up on the $151 strike puts expiring on 16 March 2013, closing the day with literally zero volume.  I had to look at other ETFs to trade and finally settled on the DIA.  The setup wasn't perfect, but what I'm experimenting with is a play on what has killed me twice in the options market coupled with an observation that the upwards price push was a fait accompli with very little volume.  Ask blocks were consistently larger than bid blocks on both DIA and SPY.  Closing volume on DIA was 49% of its 10-day average whilst closing volume on SPY was 60% of its 10-day average.  Are we pushing up against the wall of resistance?

I won't put on any more bearish bets as I've got enough hedges going on.  If I continue, I'll soon be making hedges on your behalf.  If the market turns against me, I still won't get gutted, but boy will I be disappointed!

The surprise of the day was NTI, which I have a covered call on.  NTI spiked +7.97% today.

Unfortunately for my SBA:

-3.38% SBA
+0.96% Roth IRA

+0.27% DJIA
+0.39% Nasdaq
+0.46% S&P

-0.52% FTSE
-0.02% Eurofirst
+0.40% Nikkei
-3.65% Shanghai

-0.71% WTI
-0.31% Brent
-0.02% Gold

-8.53% VIX