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PPI data came out much higher than expected and bonds have dropped like a rock. The 30-year future has been as low as 113&19/32, representing a gain of USD$3,406 per contract. At this stage I would move stops down to 115, thus locking in a USD$2k gain in less than ten days - which more than makes up for the 100% fall in the Feb $75 AAPL puts...
115 is probably a teensy bit too tight, but by the same token the thing is likely to fall further before it moves up. From now on, my view would be to move the stop down one tick for every 2 ticks' additional decline in the bond price.
