Markets Down

Wednesday, January 14, Option expiration is this Friday and the markets have made their 6th straight day of declines. Several lines of support were taken out and the RUT gave up 21 pts today. I was very close to selling a 380/370 Put Spread on the RUT today but just didn't want to pull the trigger. Currently my only position is 2 RUT 380/370 short put spread. Sold these for average of .725, currently the spread is trading for 1.5, big loss on paper, due to delta and vega increase. I'm waiting to see what the rest of the week has as Citi and JP Morgan are releasing some results as well as some other important firms. I'm concerned that we could go and at least re-test the November lows (371 for the RUT). Futures are down a few points after hours, but I don't give those much weight until the morning before the open. Unfortunately I haven't had an market-short positions on for a while now, so I haven't been able to profit from this down-trending market. We will see what tommorrow brings, would like to sell another put vertical on these huge down days, but not sure I want to put on that much risk in front of what could be a steam-roller.