Market Gyrations Got You Down? Here's Your Anti-Dote...

I can't say it enough - options contracts are your best friend, in good times and bad. I'll tell you why in a moment.

But first, it's been a brutal few weeks for the stock markets, as August is living up to its reputation of being one of the worst performing months of the year.

The Dow Industrials has fallen 6.75% from high to low, the S&P 500 fell 6.3% from high to low, and the Nasdaq fell a larger 7.8% from high to low.

No one likes to see that, especially if you've got a good portion of your nest egg tied to the markets.