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Below is a list of today's twenty-five most distressed stocks (according to their Altman Z-Score or Z''-Score, respectively) with a share price of $5 or higher. For details on how this ranking list is compiled, please click here.
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DIA - Not my first choice
Had limit orders in for puts on two companies I found on Short Screen's screener. One idea behind my Short Screen put basket is that when the market corrects, I expect financially-distressed stocks will fall further and faster than the broader market.
A few minutes before the close today, my limit orders still hadn't filled, but with the Dow hitting highs I felt it was an opportune time to short something. So I picked up a few of the 87 strike JUN 10 puts on the Dow-tracking ETF DIA.
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Incidentally -- I noted this on Twitter, but should have noted this year as well -- I sold these last month at $1.25 for a gain of 32%.