I have been using married puts lately very successfully in this volatile market. This is where you buy stock and buy a put option on the stock to reduce downside risk. If I reach my target ( market/stock rises ), I sell both positions. If put option doubles in price ( market/stock drops ), I sell my put option and buy another. Stock screening includes > $30, > 1,000,000 shares/day avg., ADX > 25 and rising, %WilliamsR ( 30 ) > -20 on daily charts. If %R goes below -50, I sell the stock.