Long Dec 31 2019 292 Put, cost basis @ $1.69 is now trading @ $1.01 as of close today.  The Daily chart is showing a breakdown ahead of the weekly chart breakdown we expect to happen into Wednesday when ADP Non-Farm Employment & Services PMI will be announced around the open.  We look to close the Put early Wednesday.   

                                                                                                                      ACTUAL       EST.       PREV.

WedDec 4    5:15am USD  
ADP Non-Farm Employment Change
   ?        140K 125K  
  6:45am USD  
Final Services PMI
   ?   51.6 51.6  
  7:00am USD  
ISM Non-Manufacturing PMI
   ?   54.5 54.7  
    USD  
FOMC Member Quarles Speaks
   ?        
  7:30am USD  
Crude Oil Inventories
   ?     1.6M  

 

The DAILY chart:  Needs to break down below 311 and the next support looks to be around the 304 area, which could be reached by Mid-Wednesday. 

 

The WEEKLY chart: