The typical oversold rally extends to a declining 20-day moving average ... if SPX were to trade at 5,730 or higher. Equity-only put-call ratios continue to rise, as there has been little letup ...

We will hold these calls as long as the put-call ratio buy signal is in place. Long 6 VIX (April 2) 29 calls: Stop out if VIX closes below its 200-day moving average for two consecutive days.