Thapap,

I'm assuming you sold the calls. It is possible that we could go to 1000 before any pullback. The put-call ratio ratio has spiked to a point where a sell-off is very likely but the market is digesting all the bad news and going up. When it's all said and done I think S&P at 760 will be the low to end this bear market but I'm not sure when that will happen. I usually react to the market rather than predict so currently I'm long stocks, short call spreads (for insurance) and long futures (intraday only) and so far it's working well. If we see few days (2-3) of heavy selling over 1% in SP and Nasdaq on the same day, I'll sell calls and short futures.

Dikush,

The stocks that you mentioned will never go to the high price in our life-time. I usually like to bet on almost sure thing than a long-shot.