Here's what I answered another follower yesterday who had the same question: "Coming into today, both the NYSI and the NYMO were down on the dailies, and for three days in a row 40 stocks on my Nifty50StockList were on buys (that is unsustainable). So...when the market went up initially I waited"

Waited for the put to cross its open that is.

I will add that as long as the NYSI is falling, long the calls is a counter-trend trade (which, of course, can be spectacular) but with both the NYMO and NYSI down it probably is prudent to focus on the short side. However, had I let the strategy run and bought the call (as I probably should) it would have been stopped out with only a $61 loss, and never would have whipped across its open again as the put took off.