Well, it looks like the market is going to continue down. It might be prudent to get out of the way.
With the SPX at 1275, let's:
Buy to close 20 SPX July 1250 puts
Sell to close 20 SPX July 1240 puts
Debit of about $3.20 ($6,400)
The market is moving fast and you may have to pay more or less, depending on where the market is when you submit the order.
We'll discuss what we want to do in the Sunday column with regard to new positions.
Be careful, good luck and trade smart!