Guys, Matt and Steve are constantly reiterating that we all need to trade within our means and risk tolerance... and that we don't need to take every trade.  We also have 2 1/2 months for the positions to potentially turnaround or pair losses. 

In a waterfall move like we just saw I really think you should also be hedging  options trades against sudden big moves.  I was mitigating my longer term risk buying low cost, short-term (daily/weekly) OTM puts at the same time I was buying the longer term call positions. I scalped some profits each day as the market went down. Sure I'm net negative on the last few trades but not by as much as you would think.