BHP Billiton Ltd ADR (BHP) is taking a bit of a break today. It is currently down 4 at $89.40. Once it fills in the gap at $88.94 I am going to sell the June 80 strike. The price should be around 1.20 - 1.25 at that price. This sector could continue down further, but I think that the gap fill will be some short term support and give us a chance to reduce the negative delta.