I wasn't really expecting the market to gap up this morning and pull a lot of my candidates from my last minute shopping list. I started the month thinking I liked Oil at around $50. So instead of selling the Proshare Oil and Gas Fund (DIG) puts we sold the United Stated Oil Fund (USO) 36 puts. Even though my target for Oil was $45, I still wanted to have a partial bullish position. Those should have been stopped out when USO broke below the $39.14 support. USO is now at $35.15 as I write this. If you still have the half position, cover the 35 strike and sell the full position allocation for the December 33 Strike. There is currently a $0.05 credit on the back ratio (Sell two 33s and buying one 36 December Put). However, if you are flat, sell the DIG December 20 Puts for a target of $0.50 per contract. We are doing another half position until DIG dips to the gap high of $25.50 (see chart below). The initial margin is $200 for one contract. A full allocation for a $20,000 option writing account should be 5 contracts.