pulling the trigger

The DOW fell over 600 points yesterday and NASDAQ fell over 300. I think it's finally time to pull the trigger and sell a put. It doesn't feel good, but these events are what investors wait for. The events where there is blood on the streets. Bargains happen when markets crash. I should be excited, but instead very nervous. Nervous that the market will continue to crash and I'll be in a margin call.

I've decided to take a chance and sell a put in NU to expire mid-September. Sold 5, NU September 16 4.5 puts for .34. Should earn about $167 if it stays above 4.5 by September 16. If it doesn't I'll have to close out the position at a loss. With only $7k to work with I really don't have much wiggle room.