New Position (VZ)

I sold (5) Feb $30 puts for .51 and (5) Feb $29 puts for .23. My intent would be to roll these out to March should they move against me, but depending on what price we're at on expiration I might even take possession and then sell a March covered call.

Although PFE and MO have not held up today like in the recent past, I'm considering buying March calls on those names. I'm not sure how large my conviction is right now. If we sell off I expect everything to sell off. I still think we're in an environment where all correlations go close to 1.0 when things start to go south.