Rally Back or Ready for Another Smack?

The major market indices rallied strongly off of the lows to end the sell-off...for now. What's next? Is this just a bearish reset, or do the bulls have any legs left to carry the market higher. A look at today's unusual option activity gives some indication of how the bulls and bears are positioning themselves. (IWM, EFA, NCLH, CZR, GT, GDX, AUY, AA, ET)...

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