20060512 With the selloff in the world markets, how can FKLI traders use as strategy. For one, looking at the 3 moving averages in the chart, will give clues as to areas of support for the cash index. If we are thinking that there will be 16 days to go to expiration, with a significant discount, I would venture that long at the bands and holding to expiration might provide a high probability trade, which would be safest rather than trade through the volatility, long or short.