We’ve already taken a partial profit on a short position initiated an inch off yesterday’s high, so there is little risk even if the broad averages head higher (as they always seem to do).  Adjusted for the theoretical gain of 0.18 per contract that we realized by selling two March 57 puts intraday for 0.80,  our two remaining puts have a cost basis of 0.44. For now, plan on stopping yourself out if they touch 0.50, a price that would leave us with no actual loss even after commissions.  If the Cubes do get second wind and pop above yesterday’s high, we’ll plan on re-shorting the little s.o.b. at 60.36 by buying four April 60 monthly puts. (They settled yesterday at 2.76.)  The target pattern, clear as day on the weekly chart, is shown in the inset.  _______ UPDATE (10:37 a.m. EST):  The sneaky little s.o.b. head-faked on an opening-bar gap to 58.02, but the puts went no lower than 0.55, so we remain long two of them.  Close out one, good-till-canceled, if they should touch 1.00. If successful, we’ll own a free put (or multiple thereof, depending on how many puts you bought initially) with zero risk. _______FURTHER UPDATE: The puts hit 1.00 around 1:30 p.m. and have since slid back to 0.94 after topping at 1.02.  We now have a single contract remaining for each set of four originally purchased. The profit-adjusted cost basis of our position amounts to a 0.12 CREDIT, implying a $12 gain and no loss possible even after adjusting for commissions.  We’ll simply forget about this one until it’s time to roll into the April contract, assuming we get the chance. In the exaggeration-prone and oft-disingenuous world of direct mail marketing, our profit might be headlined as representing a “SENSATIONAL 20,000% ANNUALIZED GAIN!!!!!!!!!“