Matt Shapiro of Stutland Equities and Bernie McSherry of Cuttone & Co. are positioning themselves for Dow 10,000, they said Tuesday.
"We had two weeks of what I called airpocket micro-correction," Shapiro said. "The traders on the S&P 500 are selling out of those puts ... and they're actually buying calls on the fear the market might move a lot on higher earnings."
McSherry had been betting against the market but said he was tired of fighting the rally.
"I have switched my bet ... We're going to [10,000]," he said.
- POLL: Where is the Dow Headed First—9,000 or 10,000?
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Disclosure information was not available for Shapiro, McSherry or their companies.