You have to admit that this plethora of positives, this parade of non-horribles, is the biggest fear of the hedge funds on the way home tonight. It's really a time when there's tremendous pressure on those needing the market down to try to hit this darned thing with call-selling and put-buying and to try to get a couple of key stocks down that transcend China. Instead, it looks like we had our last chance to blow out the puts on an Apple (AAPL) or an Oil Service HOLDRs (OIH), specifically the Apple 160s and the OIH 100s.

You have to admit that this plethora of positives, this parade of non-horribles, is the biggest fear of the hedge funds on the way home tonight. It's really a time when there's tremendous pressure on those needing the market down to try to hit this darned thing with call-selling and put-buying and to try to get a couple of key stocks down that transcend China. Instead, it looks like we had our last chance to blow out the puts on an Apple (AAPL) or an Oil Service HOLDRs (OIH), specifically the Apple 160s and the OIH 100s.

There are many others like this: Procter & Gamble (PG), Union Pacific (UNP), 3M (MMM), Coca-Cola (KO, Verizon (VZ) and AT&T (T). All of them needed to be crushed today and stay crushed; you had to sell the puts or risk letting 'em go out worthless, given this close.

There are many others like this: Procter & Gamble (PG), Union Pacific (UNP), 3M (MMM), Coca-Cola (KO, Verizon (VZ) and AT&T (T). All of them needed to be crushed today and stay crushed; you had to sell the puts or risk letting 'em go out worthless, given this close.

There are many others like this: Procter & Gamble (PG), Union Pacific (UNP), 3M (MMM), Coca-Cola (KO, Verizon (VZ) and AT&T (T). All of them needed to be crushed today and stay crushed; you had to sell the puts or risk letting 'em go out worthless, given this close.

There are many others like this: Procter & Gamble (PG), Union Pacific (UNP), 3M (MMM), Coca-Cola (KO, Verizon (VZ) and AT&T (T). All of them needed to be crushed today and stay crushed; you had to sell the puts or risk letting 'em go out worthless, given this close.

There are many others like this: Procter & Gamble (PG), Union Pacific (UNP), 3M (MMM), Coca-Cola (KO, Verizon (VZ) and AT&T (T). All of them needed to be crushed today and stay crushed; you had to sell the puts or risk letting 'em go out worthless, given this close.

There are many others like this: Procter & Gamble (PG), Union Pacific (UNP), 3M (MMM), Coca-Cola (KO, Verizon (VZ) and AT&T (T). All of them needed to be crushed today and stay crushed; you had to sell the puts or risk letting 'em go out worthless, given this close.