Opting In

It's been such a long time
I think I should be going
And time doesn't wait for me
It keeps on rolling
--Boston

Bought some options for the first time in ages--puts on the Financial Sector SPDR (XLF).

From where I sit, the mounting problems underneath the financials have the potential to let go in a hurry. If they do, then the XLF could see 12 in short order.

Moreover, option premiums are reasonable, and with the markets in their existing state I'd rather be a buyer rather than a seller of volatility here.

The heck of it is the timing, of course. And time matters more with options...

position in XLF