Straddle Alert!

Back from vacation (boo!) and am watching the vote on the floor of Congress regarding the bailout. It’s a real nail-biter as the vote is close as of the time of this writing, and I’m thinking that this is a great opportunity for those of you savvy options players. If the bailout passes, the market is poised to soar. If not, I do believe the market will tank and badly.

This type of situation screams for a straddle on the tracking stocks or the indices. I know I’m late getting this out, but if you don’t have time to put on this type of trade, it’ll still be interesting to watch. For all of you conservative players, I dearly hope you’re in cash.

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